Wall St set for higher open as traders raise bets on bigger Fed rate cut
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Boeing slips after US West Coast workers strike
Adobe tumbles after forecasting Q4 earnings below estimates
Futures up: Dow 0.16%, S&P 500 0.22%, Nasdaq 0.09%
Updated at 8:18 a.m. ET/1218 GMT
By Shashwat Chauhan and Purvi Agarwal
Sept 13 (Reuters) -Wall Street was on track to open slightly higher on Friday as investors reevaluated the possibility of a bigger interest rate cut by the Federal Reserve next week, while Boeing fell after the planemaker's factory workers went on strike.
Traders' bets of a 50-basis point rate cut jumped overnight, now standing at 43% compared with 14% on Thursday, CME's FedWatch Tool showed.
Former New York Fed President Bill Dudley said there was a strong case for a 50-bps interest rate cut. Separate media reports calling the decision "a close call" also added to the uncertainty.
"A couple of articles were published in the Wall Street Journal and the Financial Times suggesting that a 50-bps move was still in play, which has led markets to once again reevaluate their expectations," Deutsche Bank analysts said.
The dollar came under pressure against major global peers, while yields on U.S. government bonds eased across the curve. MKTS/GLOB
Bets of the Fed sticking to a smaller 25-bps cut when it meets on Sept. 17-18 had firmed on Thursday following a slightly higher producer prices report, which came on the heels of the August consumer prices data.
"Markets want the FOMC to ease fast and get on with the risk of recession fighting. The meeting is a risky event and it will remain so regardless of the 25 or 50 bps easing next week," said Bob Savage, head of markets strategy and insights at BNY Mellon.
All major U.S. benchmarks had closed higher in the previous session, boosted by rising megacap stocks, keeping them on track for weekly gains.
Focus will be on the University of Michigan's consumer sentiment survey for September, which is expected around 10 a.m. ET (1400 GMT).
Dow E-minis 1YMcv1 were up 66 points, or 0.16%, S&P 500 E-minis EScv1 were up 12.25 points, or 0.22%, and Nasdaq 100 E-minis NQcv1 were up 16.75 points, or 0.09%.
Futures tracking the economically sensitive Russell 2000 small cap index RTYcv1 rose 1%.
Boeing BA.N fell 2.9% in premarket trading as its U.S. West Coast factory workers walked off the job early on Friday after overwhelmingly rejecting a contract deal.
Adobe ADBE.O slid 8.2% after the Photoshop maker forecast fourth-quarter earnings below analysts' estimates, while Oracle ORCL.N jumped 6.2% after the cloud computing company raised its fiscal 2026 revenue outlook.
Moderna MRNA.O fell 3.4%. At least three brokerages downgraded their rating on the vaccine maker's shares a day after it pushed back its break-even goal by two years and predicted 2025 sales below its forecast for the current year.
Chinese e-commerce firm PDD Holdings PDD.O dropped 5.7% after the Biden administration said it was moving to curb low-value shipments entering the U.S. duty-free under the $800 "de minimis" threshold.
Most S&P 500 sectors headed for weekly gains https://tmsnrt.rs/4d20XQR
Reporting by Shashwat Chauhan and Purvi Agarwal in Bengaluru; Editing by Shounak Dasgupta
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
