Earnings Season, Monetary Policy Sway Markets

The onset of the earnings season and the uncertainty surrounding the Federal Reserve’s monetary policy were the dominant influences on market mood at the beginning of the new week.

According to the CME Group’s FedWatch Tool that tracks the expectations of interest rate traders, the likelihood of a quarter-point cut in the next Fed review in November has decreased to 84.1 percent from 89.5 percent a day earlier.

Wall Street Futures are directionless. European benchmarks are trading mostly above the flatline. Major benchmarks in Asia closed on a positive note.

The Dollar’s strength lifted the Dollar Index. Bond yields are trading mixed. Crude oil prices eased amidst renewed concerns over demand. Gold prices edged down. Cryptocurrencies gained.

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

Stock Indexes:

DJIA (US30) at 42,801.00 down 0.15%
S&P 500 (US500) at 5,826.40, up 0.20%
Germany’s DAX at 19,451.15, up 0.49%
U.K.’s FTSE 100 at 8,262.63, up 0.11%
France’s CAC 40 at 7,565.56, down 0.16%
Euro Stoxx 50 at 5,014.15, up 0.20%
Japan’s Nikkei 225 at 39,605.80, up 0.57%
Australia’s S&P ASX 200 at 8,252.80, up 0.47%
China’s Shanghai Composite at 3,284.32, up 2.07%
Hong Kong’s Hang Seng at 21,092.87, down 0.75%

Currencies:

EUR/USD at 1.0913, down 0.21%
GBP/USD at 1.3041, down 0.19%
USD/JPY at 149.75, up 0.42%
AUD/USD at 0.6714, down 0.54%
USD/CAD at 1.3792, up 0.22%
Dollar Index at 103.18, up 0.28%

Ten-Year Govt Bond Yields:

U.S. at 4.132%, up 1.48%
Germany at 2.2675%, down 0.33%
France at 3.034%, down 0.39%
U.K. at 4.2835%, up 1.79%
Japan at 0.956%, up 0.63%

Commodities:

Brent Oil Futures (Dec) at $77.25, down 2.26%.
Crude Oil WTI Futures (Nov) at $73.70, down 2.46%.
Gold Futures (Dec) at $2,673.65, down 0.10%.

Cryptocurrencies:

Bitcoin at $64,857.19, up 3.68%
Ethereum at $2,534.69, up 3.06%
BNB at $580.53, up 1.42%
Solana at $153.02, up 4.38%
XRP at $0.5383, up 1.29%.