Markets Cautious As Middle East Tensions Weigh

Fears of a potential escalation in the geopolitical tensions in the Middle East lingered in world markets. Markets are also keenly waiting for the U.S. Services PMI and the weekly initial jobless clai...

RTT Staff Writer•Thursday, October 3, 2024•1 min read

Fears of a potential escalation in the geopolitical tensions in the Middle East lingered in world markets. Markets are also keenly waiting for the U.S. Services PMI and the weekly initial jobless claims data due on Thursday as well as the monthly non-farm payrolls report due on Friday.

According to the CME Group’s FedWatch Tool that tracks the expectations of interest rate traders, the likelihood of a half-point cut in the next Fed review in November has fallen to 35 percent from 49 percent a week earlier.

Wall Street Futures are trading in negative territory. European benchmarks are trading mostly lower. Asian markets also finished trading on a mixed note.

Dollar Index rose above the flatline. Bond yields hardened across regions. Middle East tensions continued to lift crude oil prices. Gold prices edged down. Cryptocurrencies plunged further.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 42,082.50, down 0.27%
S&P 500 (US500) at 5,698.90, down 0.19%
Germany’s DAX at 19,090.55, down 0.31%
U.K.’s FTSE 100 at 8,320.82, up 0.36%
France’s CAC 40 at 7,526.29, down 0.68%
Euro Stoxx 50 at 4,941.75, down 0.43%
Japan’s Nikkei 225 at 38,552.50, up 2.01%
Australia’s S&P ASX 200 at 8,205.20, up 0.09%
China’s Shanghai Composite at 3,336.50, up 8.06% (Sep 30)
Hong Kong’s Hang Seng at 22,113.51, down 1.47%

Currencies:

EUR/USD at 1.1040, down 0.05%
GBP/USD at 1.3115, down 1.15%
USD/JPY at 146.89, up 0.29%
AUD/USD at 0.6845, down 0.57%
USD/CAD at 1.3531, up 0.23%
Dollar Index at 101.88, up 0.20%

Ten-Year Govt Bond Yields:

U.S. at 3.812%, up 0.64%
Germany at 2.1450%, up 2.00%
France at 2.926%, up 1.74%
U.K. at 4.0625%, up 0.83%
Japan at 0.839%, up 2.19%

Commodities:

Brent Oil Futures (Dec) at $75.36, up 1.98%.
Crude Oil WTI Futures (Nov) at $71.61, up 2.15%.
Gold Futures (Dec) at $2,666.85, down 0.11%.

Cryptocurrencies:

Bitcoin at $60,875.42, down 0.84%
Ethereum at $2,356.12, down 4.21%
BNB at $540.68, down 1.74%
Solana at $137.11, down 6.60%
XRP at $0.5225, down 11.97%.