📆 Thursday, September 12
► European stocks surged, with the Stoxx 600 index jumping more than 1.3%, the biggest gain since mid-August (if they hold). Technology stocks led the rally, benefiting from a global tech rebound fueled by the gains seen in US and Asian markets. Investors are closely watching the European Central Bank, which is expected to announce another rate cut later today. Meanwhile, Spain’s inflation eased to 2.3% in August from 2.8% in July, offering some relief amid persistent inflationary pressures and further increasing expectations that the ECB remains on it's current monetary easing path.
► U.S. stock futures rose slightly, with S&P 500 futures up 0.15% after a tech-fueled rally on Wednesday. Chip giant, Nvidia, rose more than 8% while Taiwan Semiconductor also benefited from these gains. Investors are now focused on the upcoming Federal Reserve meeting, where expectations for a 25 basis point rate cut have increased to 85%. The August inflation data showed core inflation up 0.3% MoM, slightly above forecasts, bolstering the likelihood of a moderate rate cut. The PPI and jobless claims reports due later today will provide further insights into the state of the US economy.
Subscribe to see more