Markets Reconcile To The Prospect Of A Small Fed Rate Cut

Sticky core inflation in the U.S. eclipsed the euphoria of a declining headline inflation causing markets to reconcile to the prospect of a 25-basis points rate cut by the Federal Reserve in the upcoming review.

Wall Street Futures have edged up after Wednesday’s tech rally. European benchmarks are trading on a positive note ahead of the widely anticipated interest rate cut by the European Central Bank on Thursday morning. Asian stock indexes also finished trading on a mostly positive note.

Dollar Index edged up. Bond yields hardened across regions. Crude oil prices gained amidst concerns about the impact of Hurricane Francine on U.S. crude oil output. Gold edged up. Cryptocurrencies are trading with strong gains.

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

Stock Indexes:

DJIA (US30) at 40,943.80, up 0.20%
S&P 500 (US500) at 5,566.70, up 0.23%
Germany’s DAX at 18,555.75, up 1.25%
U.K.’s FTSE 100 at 8,259.01, up 0.79%
France’s CAC 40 at 7,460.78, up 0.86%
Euro Stoxx 50 at 4,828.45, up 1.36%
Japan’s Nikkei 225 at 36,855.50, up 3.55%
Australia’s S&P ASX 200 at 8,075.70, up 1.10%
China’s Shanghai Composite at 2,717.12, down 0.17%
Hong Kong’s Hang Seng at 17,240.39, up 0.77%

Currencies:

EUR/USD at 1.1018, up 0.06%
GBP/USD at 1.3053, up 0.08%
USD/JPY at 142.70, up 0.24%
AUD/USD at 0.6675, up 0.04%
USD/CAD at 1.3575, up 0.03%
Dollar Index at 101.72, up 0.04%

Ten-Year Govt Bond Yields:

U.S. at 3.676%, up 0.69%
Germany at 2.1335%, up 1.64%
France at 2.839%, up 0.92%
U.K. at 3.8220%, up 1.59%
Japan at 0.871%, up 1.16%

Commodities:

Brent Oil Futures (Nov) at $71.27, up 0.93%.
Crude Oil WTI Futures (Oct) at $67.95, up 0.95%.
Gold Futures (Dec) at $2,545.80, up 0.13%.

Cryptocurrencies:

Bitcoin at $58,043.01, up 2.48%
Ethereum at $2,353.02, up 1.03%
BNB at $544.55, up 6.27%
Solana at $134.46, up 2.25%
XRP at $0.5393, up 1.06%.