Global Markets:
● Asian Stock Markets : Nikkei up 0.92%, Shanghai Composite up 0.72% Hang Seng up 0.24% ASX up 0.02%
● Commodities : Gold at $4,054.60 (-0.49%) Silver at $54.040 (-0.85%), Brent Oil at 110.91 (1.34%), WTI Oil at 101.39 (1.49%)
● Rates : US 10-year yield at 5.015, UK 10-year yield at 5.3529, Germany 10-year yield at 3.3550
News & Data:
● (USD) CB Consumer Confidence
97.1 to 8.2 expected
Markets Update:
U.S. stock futures were mixed early Wednesday as investors awaited earnings reports from megacap technology companies and the Federal Reserve’s latest interest rate decision.
S&P 500 futures edged higher, while Nasdaq-100 futures gained 0.5%. Dow Jones Industrial Average futures slipped 0.2%.
Asian markets mostly advanced, with Japan’s Nikkei 225 rising 1.38% and South Korea’s Kospi surging 6.57%. Hong Kong’s Hang Seng Index gained 0.43%, while mainland China’s CSI 300 rose 0.68%.
On Tuesday, major U.S. stock indexes finished higher, supported by another rally in semiconductor shares. Broadcom climbed 4% after announcing $63 billion in financing from a group of banks to purchase its chips and networking solutions for lease to Anthropic. Advanced Micro Devices gained 5.5%, while Micron Technology rose 2.8%. The Nasdaq Composite advanced 1.2%.
Stocks also benefited from declining oil prices following reports of discussions in Iran concerning conditions for ending the war with the United States.
Investors are now focused on the Fed’s policy announcement, scheduled for 2 p.m. ET Wednesday. Markets largely expect policymakers to hold interest rates steady at 3.75% to 4%, although some anticipate Chair Kevin Warsh could signal further increases.
After the market closes, Alphabet and Microsoft will report earnings, offering fresh insights into artificial intelligence spending and demand. Technology stocks have recently faced concerns over AI financing, but Morgan Stanley strategist Mike Wilson believes much of the correction may already be complete, suggesting markets have largely absorbed recent pressures.
Upcoming Events:
● 1:45 PM GMT – CAD Overnight Rate
