📆 Tuesday, September 17
► European stock markets rose, with the broad Stoxx 600 gaining 0.5%. Investors are focused on upcoming central bank decisions, particularly the US Federal Reserve (on Wednesday) and the Bank of Japan (Friday). Also the Bank of England will announce it's interest rate decision later this week (Thursday). Key economic data, including US retail sales (today!) and the upcoming Fed rate cut, are keeping markets cautiously optimistic. Markets are waiting to see if the Fed will implement a 25 or 50 basis point rate – with markets are now generally expecting a larger rate cut. The market remains somewhat unsettled – mainly due to the fact that the Fed is keeping the markets in the dark about its plans to cut interest rates.
► U.S. stock futures rose as traders await the Federal Reserve’s two-day policy meeting starting Wednesday. The Dow, S&P 500, and Nasdaq showed significant gains. Focus remains on the upcoming Fed rate cut, which has created mixed sentiment in the market. US retail sales data due later today may further inform this decision. Technology stocks, especially Apple and chipmakers, were under pressure due to concerns about weak reported weak demand for Apple's new iPhone, leading to slight sell-offs ahead of the Fed’s decision. Investors were expecting a massive boost for Apple's new iPhones due to Apple Intelligence and saw the rather mixed signs that as a sign that AI might not be the revenue driver hoped. However, our chief analyst believes this sell-off is an overreaction, generally sees the iPhone order numbers as not very negatively surprising (especially since Apple Intelligence is delayed) and expects Apple to recover from yesterday's heavy losses that also dragged other AI stocks lower.
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