► European stocks rose with the Stoxx 600 ticking up by 0.4%. Investors are digesting the latest comments from US Federal Reserve officials and anticipating key economic data. German import prices fell by 13% year-on-year in October, easing inflation concerns slightly. Yields for European bonds continue to edge lower, showing that also European investors expect the ECB to cut rates; Inflation in Spain and in German key states edged significantly lower MoM. Investors are awaiting the release of German inflation data and Eurozone confidence data later today.
► US equities futures edged a bit higher with the Nasdaq and S&P 500 up near 0.2%. Expectations increased that rates are at the peak and that rate cuts are coming, possibly by mid next year. The 10-year Treasury yield dropped to 4.29%. Recent dovish comments from Fed officials (specifically Fed Governor Christopher Waller) suggest a tilt towards a less aggressive monetary stance. Waller's surprisingly dovish comments gave an extra boost yesterday/today in the US and Europe. The USD suffered losses for the fifth day in a row, indicating the worst monthly performance in a year. This downtrend is in line with market expectations that the Fed will take a softer stance on interest rates.
► US tech companies Salesforce and Snowflake report earnings post earnings today.
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