WASHINGTON (dpa-AFX) - Rate cut expectations from the Fed faded following Fed Chair Jerome Powell's hawkish comments on Tuesday. Powell, on Tuesday said that further rate cuts by the Federal Reserve are not guaranteed given the challenging situation of inflation rising and job market cooling.
Wall Street Futures are trading with mild gains as Fed-led losses were limited by the renewed optimism around AI. Benchmarks in Europe are trading deep in the red amidst an unexpected decline in business sentiment in Germany. Earlier, the Asian markets had finished trading on a mostly positive note.
The six-currency Dollar Index rallied as rate cut expectations sobered following Fed Chair Jerome Powell's speech. Ten-year bond yields have eased across most regions. Both the crude oil benchmarks have rallied. Gold slipped in the wake of hawkish comments by the Fed Chair. Cryptocurrencies are trading on a mixed note.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 46,322.60, up 0.06% S&P 500 (US500) at 6,667.90, up 0.16% Germany's DAX at 23,601.50, down 0.12% U.K.'s FTSE 100 at 9,215.35, down 0.09% France's CAC 40 at 7,847.23, down 0.31% Euro Stoxx 50 at 5,468.35, down 0.07% Japan's Nikkei 225 at 45,650.50, up 0.34% Australia's S&P ASX 200 at 8,764.50, down 0.92% China's Shanghai Composite at 3,853.64, up 0.83% Hong Kong's Hang Seng at 26,518.65, up 1.37%
Currencies:
EUR/USD at 1.1758, down 0.48% GBP/USD at 1.3472, down 0.40% USD/JPY at 148.38, up 0.50% AUD/USD at 0.6607, up 0.21% USD/CAD at 1.3874, up 0.29% Dollar Index at 97.67, up 0.42%
Ten-Year Govt Bond Yields:
U.S. at 4.110%, down 0.24% Germany at 2.7407%, down 0.41% France at 3.562%, down 0.17% U.K. at 4.6670%, down 0.34% Japan at 1.651%, down 0.24%
Commodities:
Brent Oil Futures (Nov) at $68.20, up 0.84%. Crude Oil WTI Futures (Nov) at $64.00, up 0.93%. Gold Futures (Dec) at $3,797.92, down 0.47%.
Cryptocurrencies:
Bitcoin at $112,834.45, down 0.16% Ethereum at $4,180.26, down 0.36% XRP at $2.87, up 0.30% BNB at $1,026.67, up 2.70% Solana at $211.03, down 3.52%
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