📆 Friday, September 27
► European stock futures rose in early trading, following positive momentum from Asia, boosted by China’s latest stimulus measures. Euro Stoxx 600 futures gained nearly 0.3%, alongside a surge in Chinese stocks, driven by promises of increased fiscal support and efforts to stabilize the property sector. The French inflation rate fell sharply to 1.2% in September, down from 1.8% in August, leading to a rise in the CAC 40 index and once again clearly underlining that the ECB should have little reason to take it slow with interest rate cuts. Spanish GDP grew by 0.8% in the second quarter and by 3.1% year-on-year, supported by an improving labor market and solid economic activity.
► U.S. stock futures are little changed as investors awaited key economic data, particularly the PCE price index due later today, which is forecasted to decrease slightly YoY. If the disinflation picture remains intact, the markets will likely receive a significant boost according to our Chief Analyst Robert Lindner as it would keep the current expectations for rapid Fed rate cuts alive. The S&P 500 futures are flat, after the index hit its 42nd record close this year on Thursday. Strong corporate earnings and robust consumer spending data have kept market sentiment positive, while the USD strengthened (DXY up 0.12%), and U.S. Treasury yields remained flat.
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