📆 Thursday, October 10
► European stocks traded slightly lower as investors awaited key US inflation data. The Stoxx 600 index declined by a little over 0.15%, following the S&P 500’s record close in the previous session, led by tech. French Prime Minister Michel Barnier is set to present budget details aimed at curbing deficits and reassuring bond markets. Investors are closely watching the unfolding geopolitical situation, especially tensions between Israel and Iran, which has kept markets on edge.
► US equity futures showed little movement ahead of the highly anticipated consumer price index (CPI) release. In the previous session, the Dow and S&P 500 hit record highs, driven by gains in healthcare, technology, and industrial sectors. The USD strengthened amid the expectation of inflation data that shows a slowdown in disinflation. Minutes from the Fed’s last meeting revealed a divide among officials, with some favoring gradual rate cuts. Traders are expecting inflation data to confirm a moderation in price pressures, which could support smaller interest rate cuts by the Federal Reserve in upcoming meetings. However, strong job growth data from last week is causing some to question whether the Fed will cut rates at all next month.
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