Global Markets:
- Asian Stock Markets : Nikkei up 1.88%, Shanghai Composite up 0.42% Hang Seng up 0.10% ASX down 0.46%
- Commodities : Gold at $4,464.70 (-0.07%) Silver at $65.580 (-0.18%), Brent Oil at 88.30 (-0.75%), WTI Oil at 82.49 (-0.94%)
- Rates : US 10-year yield at 4.664, UK 10-year yield at 4.9744, Germany 10-year yield at 3.1570
News & Data:
- (USD) Core CPI m/m 0.2% to 0.2% expected
Markets Update:
U.S. stock futures were little changed Wednesday night as investors awaited fresh inflation data and assessed the latest batch of corporate earnings. Dow Jones futures hovered slightly above the flatline, while S&P 500 futures edged lower and Nasdaq-100 futures slipped 0.1%.
Asian markets were mostly higher Thursday. South Korea’s Kospi jumped 4%, Japan’s Nikkei 225 gained 1.5%, while Australia’s S&P/ASX 200 declined 0.12%.
Investors are now focused on Thursday’s July producer price index (PPI), due at 8:30 a.m. ET. Economists surveyed by Dow Jones expect producer prices to rise 0.2% month over month. The report follows Wednesday’s consumer price index (CPI), which showed inflation rising 0.1% in July, matching expectations.
The softer-than-expected inflation environment helped the S&P 500 finish higher for the first time in three sessions and reduced expectations for a September rate hike. However, Interactive Brokers senior economist José Torres said markets still favor a rate increase in October or December as policymakers assess economic conditions.
Investors will also watch July retail sales data on Friday, with economists expecting a modest 0.1% increase.
Meanwhile, earnings remained a key focus. CoreWeave and several other technology companies rallied after reporting results, while Cisco, Cerebras and Coherent fell sharply following their earnings releases.
Upcoming Events:
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