Global Markets:
- Asian Stock Markets : Nikkei down 2.70%, Shanghai Composite down 0.82% Hang Seng up 1.77% ASX down 0.24%
- Commodities : Gold at $4,037.60 (-0.36%) Silver at $57.328 (-0.18%), Brent Oil at 84.70 (-0.28%), WTI Oil at $79.46 (-0.18%)
- Rates : US 10-year yield at 4.557, UK 10-year yield at 4.9351, Germany 10-year yield at 3.0854
News & Data:
- (USD) Core CPI m/m 0.2% to 0.3% expected
Markets Update:
U.S. equity futures edged higher early Thursday after markets rallied on signs of easing inflation, lower Treasury yields, and solid corporate earnings. Dow Jones Industrial Average futures gained 0.1%, while S&P 500 and Nasdaq 100 futures also rose 0.1%.
In Wednesday’s session, the Dow Jones Industrial Average added 150.91 points, or 0.3%, to close at 52,659.18. The S&P 500 climbed 0.4% to 7,572.43, while the Nasdaq Composite advanced 0.6% to finish at 26,269.23.
Asian markets traded mixed. South Korea’s Kospi dropped more than 7%, with the Kosdaq falling 5%. Japan’s Nikkei 225 declined 3%, while the Topix slipped 1.19%. Hong Kong’s Hang Seng gained 1.31%, although China’s CSI 300 fell 0.55%. Australia’s S&P/ASX 200 eased 0.3%.
Investor sentiment improved after U.S. producer prices came in below expectations, reinforcing hopes that inflation continues to cool and that the Federal Reserve may keep interest rates unchanged. Strong earnings from major financial companies further boosted confidence, while lower Treasury yields supported growth stocks, particularly large technology firms.
Attention now shifts to Thursday’s U.S. retail sales and weekly jobless claims data for fresh clues on the economy. Earnings remain another key focus, with UnitedHealth reporting before the opening bell and Netflix releasing results after the market closes.
Upcoming Events:
- 12:30 PM GMT – USD Core Retail Sales m/m
