📆 Wednesday, September 18
► European stocks showed little movement as traders remained cautious ahead of the Federal Reserve’s rate decision later today but followed losses in the US (already in after-hours trading). The Stoxx 600 edged lower by 0.35%, with Aperol maker Davide Campari falling more than 6.5% after its CEO's unexpected resignation. UK inflation remained steady at 2.2% in August, causing the GBP to strengthen as money markets adjusted their outlook on Bank of England’s easing trajectory. The BoE is expected to keep rates unchanged on Thursday. Final Eurozone inflation data (2.2% YoY) confirmed Preliminary data.
► US stock futures traded little changed as markets priced in a 62% chance of a 50-basis-point rate cut from the Federal Reserve (according to CME FedWatch tool (https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html)). The S&P 500 and Nasdaq 100 futures are slightly up (~ +0.1%), reflecting a wait-and-see mood as traders are making no major bets before the Fed rate decision and Fed Chair Jerome Powell’s press conference and new economic projections.
Subscribe to see more