Markets Wait For PCE Data

CANBERA (dpa-AFX) - Global market spotlight has turned on the Fed's preferred PCE-based inflation readings due from the U.S. on Friday morning.

Headline annual PCE Price Index is seen edging up to 2.7 percent from 2.6 percent in July whereas the core component thereof is seen steady at 2.9 percent. Headline monthly PCE price index is expected to edge up to 0.3 percent from 0.2 percent in July whereas the core component thereof is seen edging down to 0.2 percent from 0.3 percent.

Rate cut expectations from the Fed softened in the backdrop of Thursday's data releases which showed the strongest GDP data since the third quarter of 2023 and the lowest figure of initial jobless claims in two months.

Wall Street Futures are trading in mildly positive territory. Benchmarks in Europe are also trading on a positive note. Meanwhile, Asian markets had finished Friday's trading on a mostly negative note.

The six-currency Dollar Index edged down after a two-day gaining streak. Ten-year bond yields eased across regions. Both the crude oil benchmarks are trading slightly below the flatline. Gold edged up. Cryptocurrencies extended losses.

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

Stock Indexes:

DJIA (US30) at 46,033.90, up 0.19% S&P 500 (US500) at 6,606.50, up 0.03% Germany's DAX at 23,603.56, up 0.35% U.K.'s FTSE 100 at 9,242.65, up 0.31% France's CAC 40 at 7,825.60, up 0.39% Euro Stoxx 50 at 5,464.95, up 0.37% Japan's Nikkei 225 at 45,390.00, down 0.80% Australia's S&P ASX 200 at 8,787.70, up 0.17% China's Shanghai Composite at 3,828.11, down 0.65% Hong Kong's Hang Seng at 26,128.20, down 1.35%

Currencies:

EUR/USD at 1.1662, down 0.03% GBP/USD at 1.3346, up 0.00% USD/JPY at 149.94, up 0.06% AUD/USD at 0.6522, down 0.24% USD/CAD at 1.3958, up 0.14% Dollar Index at 98.47, down 0.09%

Ten-Year Govt Bond Yields:

U.S. at 4.177%, up 0.07% Germany at 2.7548%, down 0.62% France at 3.583%, down 0.58% U.K. at 4.7320%, down 0.67% Japan at 1.651%, down 0.18%

Commodities:

Brent Oil Futures (Nov) at $69.36, down 0.09%. Crude Oil WTI Futures (Nov) at $64.90, down 0.12%. Gold Futures (Dec) at $3,774.27, up 0.08%.

Cryptocurrencies:

Bitcoin at $108,880.02, down 2.48% Ethereum at $3,886.93, down 3.31% XRP at $2.72, down 3.69% BNB at $938.07, down 4.78% Solana at $192.44, down 5.23%

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