Global Markets:
● Asian Stock Markets : Nikkei down 0.30%, Shanghai Composite down 0.18% Hang Seng up 0.44% ASX up 0.25%
● Commodities : Gold at $4,027.72 (0.50%) Silver at $54.280 (0.61%), Brent Oil at 109.63 (-1.85%), WTI Oil at 101.01 (-2.19%)
● Rates : US 10-year yield at 4.965, UK 10-year yield at 5.3656, Germany 10-year yield at 3.3434
News & Data:
● (USD) Flash Manufacturing PMI 57.9 to 57.9 expected
Markets Update:
U.S. stock futures rose on Sunday evening as investors prepared for a series of central bank interest rate decisions this week. S&P 500 futures gained 0.4%, Nasdaq-100 futures advanced 0.6%, and Dow Jones Industrial Average futures added 128 points, or 0.2%.
The Federal Reserve, European Central Bank and Bank of Japan are scheduled to announce their monetary policy decisions on Wednesday, Thursday and Friday, respectively.
Asian markets were mixed on Monday. Japan’s Topix rose 0.37%, while the Nikkei 225 slipped 0.2%. South Korea’s Kospi fell 0.3%, and the Kosdaq dropped 1.18%. Australia’s S&P/ASX 200 declined 0.26%.
Oil prices retreated in Asian trading, with Brent crude futures falling 1.31% to $115.19 a barrel and U.S. West Texas Intermediate declining 1.5% to $101.83. Brent had reached its highest level since April on Friday amid reports that the U.S. and Israel could strike Iran after the midterm elections.
Higher oil prices and widespread selling dragged U.S. stocks lower on Friday. The Dow lost more than 650 points, while the S&P 500 fell 0.5% and the Nasdaq Composite declined 0.2%. The S&P 500 and Nasdaq recorded consecutive weekly losses.
Investors are now focused on the Fed’s decision. Markets anticipate rates will remain at 3.75% to 4%, although Bank of America expects a quarter-point increase. Meanwhile, Moody’s maintained France’s Aa3 credit rating with a negative outlook, easing immediate concerns about a potential downgrade amid rising borrowing costs.
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