U.S. stock futures mixed, little changed, after mixed CPI data
Dow, S&P 500 futures slightly red, Nasdaq 100 edges up
Aug CPI MM in-line with estimate, YY < estimate
Aug core CPI MM > estimate, YY in-line with estimate
Euro STOXX 600 index up ~0.4%
Dollar edges up; gold dips; bitcoin down ~1%; crude gains ~2%
U.S. 10-Year Treasury yield rises to ~3.68%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
U.S. STOCK FUTURES MIXED, LITTLE CHANGED, AFTER MIXED CPI DATA
U.S. equity index futures are mixed while showing just modest changes after the release of the latest data on U.S. consumer prices. E-mini S&P 500 futures EScv1 are down around 0.1% which is roughly flat with where they were just before the numbers came out.
The August headline CPI reading on a month-over-month basis was in-line with the estimate. The year-over-year print was cooler than expected. The month-over-month core read was hotter than expected, while the year-over-year core print was in-line with the Reuters Poll:
According to the CME's FedWatch Tool, the probability that the FOMC cuts rates 25 basis points at its September 17-18 policy meeting now stands at 85% from 71% just before the data came out. There is now around a 15% chance the Fed slashes rates by 50 basis points vs around 29% just before the numbers were released.
In any event, looking further out into 2024, the bias in December is now for rates to be in the 4.25%-4.50% vs the current target rate of 5.25%-5.50%. The bias for December was for rates to be in 4.00%-4.25% area.
The U.S. 10-Year Treasury yield US10YT=RR is now around 3.68% vs 3.62% just before the data was released. The yield ended at 3.644% on Wednesday.
A majority of S&P 500 sector SPDR ETFs are lower ahead of the open. Real estate XLRE.P, off around 0.8%, is taking the biggest hit. Tech XLK.P, up 0.7%, is posting the biggest rise.
The KBW regional banking ETF KRE.P is down around 0.6%.
Regarding the data, Michael Lorizio, senior fixed income trader at Manulife Investment Management, in Boston, said:
"The market has 'repriced' some of the immediate expectations for rate cuts down a little bit lower… But overall I don't know if it's going to change a tremendous amount for the Fed, other than just to kind of solidify that 25 is probably the appropriate vote.”
Lorizio added “This is an outlier, but still in the trajectory, and if you really take a step back and see the type of progress that the economy has made and the Fed has made with this tighter policy, this is really just a kind of a slowdown from what we've seen in the past couple of months, but materially better than what we saw to start the year for sure and we are still trending in the correct way.”
..."I think the longer run forecast for the future path of Fed policy hasn't really been changed a whole lot.”
Here is a premarket snapshot from shortly after 0900 EDT (1300 GMT):
(Terence Gabriel, Karen Brettell)
*****
FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
GRADUAL RE-RATING POSSIBLE FOR "CHEAP" EURO ZONE BANKS - BERENBERG - CLICK HERE
UNICREDIT & COMMERZ: AN $80 BLN BANK SEEN FROM THE SELLSIDE - CLICK HERE
GERMAN STOCKS BREAK FREE FROM THE ECONOMY - GS - CLICK HERE
MINING AND RETAIL LIFT STOXX - CLICK HERE
STOXX EYES STRONG START - CLICK HERE
MARKETS TRY TO SHAKE IT OFF AFTER US PRESIDENTIAL DEBATE - CLICK HERE
LMCPI09112024 https://tmsnrt.rs/3ziFKV1
premarket09112024 https://tmsnrt.rs/3XCVsUa
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
</body></html>免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。