US Futures Signal Some Respite After Bruising Week - Europe Market Wrap
- At the conclusion of a difficult week for investors who were forced to confront the thought of higher-for-longer interest rates, US equities futures indicated a respite in a three-day selloff on Wall Street.
- After the S&P 500 index plunged the lowest on Thursday since March, contracts for the index increased 0.3%, marking a minor recovery. The tech-heavy Nasdaq 100 index saw a 0.5% increase. Activision Blizzard increased 1.8% in premarket trade as Microsoft appeared poised to pass the last regulatory barrier in its $69 billion acquisition of the game company. Stocks in Europe reduced their losses.
- This week, central banks from around the world emphasised how alert they are to the threats posed by inflation and cautioned investors against having unrealistic expectations of rate decreases. Investors are selling stocks at the quickest rate since December as the likelihood that monetary policy will cause a recession rises, according to Bank of America strategists.
- A letter from the bank using EPFR Global statistics showed that equity funds lost $16.9 billion in the week ending September 20. According to the Michael Hartnett-led team, rising rates might cause financial markets to experience "pops and busts" as well as a difficult economic landing in 2024.
- BoJ's Governor Ueda: We expect CPI to pick up after deceleration.
- French Mfg PMI Flash Actual 43.6 (Forecast 46.1, Previous 46.0) [EUR Weakened]