Global Markets:
● Asian Stock Markets : Nikkei up 2.45%, Shanghai Composite up 0.31% Hang Seng up 0.37% ASX down 1.98%
● Commodities : Gold at $4,194.37 (0.19%) Silver at $61.362 (1.30%), Brent Oil at 97.34 (-0.68%), WTI Oil at 89.63 (-0.87%)
● Rates : US 10-year yield at 5.286, UK 10-year yield at 5.4336, Germany 10-year yield at 3.5787
News & Data:
● (USD) Core PCE Price Index m/m
0.2% to 0.3% expected
Markets Update:
Stock futures edged higher Wednesday evening as Wall Street prepared to enter a new trading month, following a volatile close to the third quarter.
Dow Jones Industrial Average futures gained 99 points, or 0.2%, while S&P 500 futures rose 0.3% and Nasdaq-100 futures added 0.2%.
In regular trading, the S&P 500 fell 0.3%, while the Dow dropped more than 440 points, or 0.9%. The Nasdaq Composite bucked the trend, climbing 0.2%.
September proved challenging for stocks, with the S&P 500 declining 0.5% amid higher oil prices and rising Treasury yields. The Dow fell 4.3%, while the Nasdaq gained 1.9%. For the third quarter, the S&P 500 and Nasdaq advanced about 2%, while the Dow declined 2.7%.
Investors are entering October focused on inflation, elevated borrowing costs and the Federal Reserve’s next interest-rate decision, scheduled for late October. They will also monitor upcoming corporate earnings for signs of continued economic resilience.
August’s personal consumption expenditures price index rose 3.4% year over year, below the 3.7% forecast. However, Treasury yields continued climbing, with the 10-year yield briefly topping 5.3% and the 30-year yield exceeding 5.6%.
Investors will receive initial jobless claims Thursday, followed by September’s employment report Friday. Nike is also scheduled to report earnings after the bell.
Upcoming Events:
● 2:00 PM GMT – USD ISM Manufacturing PMI
