World Markets Eye Earnings And Easing

Quarterly progress on the corporate sector’s earnings scorecard, the likely challenges to the Fed’s potential monetary easing and the potential scope for further easing measures from China weighed on market sentiment.

The CME Group’s FedWatch Tool that tracks the expectations of interest rate traders currently shows the likelihood of a quarter-point cut in the next Fed review in November at 92.8 percent versus 97 percent a day earlier.

Wall Street Futures have edged up. European benchmarks are trading mostly lower. Asian benchmarks closed on a mostly negative note.

The Dollar Index edged up. Bond yields eased. Crude oil prices extended losses. Gold prices recorded modest gains. Cryptocurrencies extended gains.

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

Stock Indexes:

DJIA (US30) at 42,745.70 up 0.01%
S&P 500 (US500) at 5,822.60, up 0.13%
Germany’s DAX at 19,448.35, down 0.37%
U.K.’s FTSE 100 at 8,308.69, up 0.72%
France’s CAC 40 at 7,482.83, down 0.52%
Euro Stoxx 50 at 4,916.45, down 0.61%
Japan’s Nikkei 225 at 39,201.50, down 1.87%
Australia’s S&P ASX 200 at 8,284.70, down 0.41%
China’s Shanghai Composite at 3,202.95, up 0.05%
Hong Kong’s Hang Seng at 20,286.85, down 0.16%

Currencies:

EUR/USD at 1.0892, up 0.02%
GBP/USD at 1.3017, down 0.42%
USD/JPY at 149.35, up 0.11%
AUD/USD at 0.6685, down 0.26%
USD/CAD at 1.3786, up 0.09%
Dollar Index at 103.29, up 0.03%

Ten-Year Govt Bond Yields:

U.S. at 4.009%, down 0.65%
Germany at 2.1895%, down 1.73%
France at 2.928%, down 1.15%
U.K. at 4.1230%, down 0.98%
Japan at 0.941%, down 1.36%

Commodities:

Brent Oil Futures (Dec) at $74.05, down 0.27%.
Crude Oil WTI Futures (Nov) at $70.41, down 0.24%.
Gold Futures (Dec) at $2,693.95, up 0.56%.

Cryptocurrencies:

Bitcoin at $67,784.61, up 3.54%
Ethereum at $2,617.75, up 0.69%
BNB at $598.13, up 1.84%
Solana at $155.89, up 1.49%
XRP at $0.5431, up 0.16%.

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