Cautious Optimism Ahead Of PCE Data

Market sentiment remains cautiously optimistic ahead of the monthly update to PCE readings, the Fed's preferred inflation gauge. The year-on-year PCE Price Index, its core component as well as the mon...

RTT Staff Writer•Friday, August 30, 2024•1 min read

Market sentiment remains cautiously optimistic ahead of the monthly update to PCE readings, the Fed’s preferred inflation gauge. The year-on-year PCE Price Index, its core component as well as the month-on-month PCE Price Index are all seen edging higher. The month-on-month Core PCE Price Index is however seen steady.

Wall Street Futures are trading in the green zone. European benchmarks are also trading higher amidst data showing inflation in the Euro Area declining as expected. Asian stock indexes also finished trading on a positive note.

Dollar Index is firm above the flatline. Bond yields mostly declined. Crude oil prices have edged up. Dollar’s resurgence weighed on gold prices. Cryptocurrencies have declined.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 41,441.50, up 0.26%
S&P 500 (US500) at 5,620.60, up 0.51%
Germany’s DAX at 18,942.65, up 0.21%
U.K.’s FTSE 100 at 8,404.57, up 0.30%
France’s CAC 40 at 7,663.93, up 0.30%
Euro Stoxx 50 at 4,970.45, up 0.08%
Japan’s Nikkei 225 at 38,621.00, up 0.69%
Australia’s S&P ASX 200 at 8,091.90, up 0.58%
China’s Shanghai Composite at 2,842.21, up 0.68%
Hong Kong’s Hang Seng at 17,989.07, up 1.14%

Currencies:

EUR/USD at 1.1079, up 0.02%
GBP/USD at 1.3175, up 0.05%
USD/JPY at 145.26, up 0.20%
AUD/USD at 0.6797, up 0.00%
USD/CAD at 1.3478, down 0.03%
Dollar Index at 101.37, up 0.03%

Ten-Year Govt Bond Yields:

U.S. at 3.857%, down 0.13%
Germany at 2.2560%, down 1.18%
France at 2.975%, down 0.83%
U.K. at 4.0190%, down 0.05%
Japan at 0.898%, up 0.79%

Commodities:

Brent Oil Futures (Nov) at $78.88, up 0.08%.
Crude Oil WTI Futures (Oct) at $76.00, up 0.12%.
Gold Futures (Dec) at $2,551.65, down 0.34%.

Cryptocurrencies:

Bitcoin at $59,457.88, down 0.57%
Ethereum at $2,512.12, down 1.52%
BNB at $539.06, down 0.88%
Solana at $139.32, down 4.32%
XRP at $0.5642, down 1.83%.