📆 Wednesday, April 17
► European futures are trading higher, with the Stoxx Europe 600 index getting a 0.5% boost amid mixed corporate earnings reports. Notable movements included ASML Holdings fell ~4% due to missed first-quarter orders and Adidas soaring (+7.6%) after upgrading its financial forecasts. UK markets were under pressure as inflation data came in hotter than expected at a 3.2% inflation rate for March, exceeding the forecasted 3.1%, signaling persistent price pressures. Eurozone inflation rate came in-line with expectations and the flash reading at 2.4% YoY down from 2.6% in February. Core inflation at 2.9% YoY down from 3.1% in February.
► US equity futures remain stable, are slightly positive as traders digested Jerome Powell's recent remarks suggesting a slower approach to reducing interest rates, contrary to earlier expectations. This sentiment was echoed by other Fed officials who see persistent inflation as a reason to maintain higher borrowing costs. This cautious outlook kept the Treasury yields near their peak for the year but Powell remarks didn't come as a surprise.
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