Stocks Resume Rally With Slower Rate-Hike Bets: Markets Wrap

(Bloomberg) — Stocks advanced, with U.S. U.S. futures retreating from earnings worries as the U.S. economy’s rate of growth advanced. Hong Kong for the second day. The story was stable after two days of falling.

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Global stock indexes are headed for their fifth day of gains, their longest in more than two months, amid rising expectations. the rise of America. A digital rally encouraged Hong Kong shares to pare losses earlier this week after President Xi Jinping consolidated his power. Japanese stocks led the decline in Asia.

A Bloomberg estimate of the dollar was steady, with the yuan outbound giving up some gains on Wednesday. The yield on the 10-year Treasury bond settled at 4% after falling below an earlier level, with investors bracing for rate hikes to weaken due to earnings and price data. economy is showing a slowdown. The US benchmark has dropped 20 basis points in the past two days.

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Amidst the challenges for investors, central banks are giving certain signs that the reduction of monetary tightening may be on the horizon. The Bank of Canada raised interest rates by a smaller amount than expected on Wednesday, adding to suggestions that the Federal Reserve is also approaching a downward revision.

The decrease in services and production and less home sales showed that the Fed’s efforts to soften the economy seem to be paying off. However, the Fed is expected to raise the rate by 75 basis points when it meets next week.

“The only sanctions that will make them stop are the signs that inflation is going down and we’re not there yet,” said Nancy Daoud, a private equity consultant at Ameriprise. Financial, in an interview on Bloomberg TV. “They’re going to stick to their guns and raise prices in November and again in December.”

The European Central Bank is also planning to raise it by 75 basis points later Thursday.

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US futures climbed, beating a 24% drop for Meta Platforms Inc. in after-hours trading after disappointing third-quarter earnings. Wednesday’s decline for parent Facebook, Inc., Alphabet Inc. and Microsoft Inc. it dragged the S&P 500 into a loss as investors cheered on tech profits. South Korea’s Samsung Electronics Co was little changed after reporting weak earnings.

China’s commodity indices were little changed, while Australian currencies rose.

Oil gained ground after hitting its highest level in about two weeks after US Secretary of State Anthony Blinken said a deal with Iran may not progress. in a short time. Traders placed bets on higher prices for aluminum as the US considered adding steel to sanctions against Russia, a major producer.

Read more: Great Stock Increases on a Day of Heavy Down Market Activity

Highlights of this week’s events:

  • ECB rate decision, Thursday

  • US GDP, durable goods orders, initial jobless claims, Thursday

  • Bank of Japan policy decision, Friday

  • U.S. personal income, personal spending, home sales forecast, University of Michigan consumer sentiment, Friday

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Some of the main activities in the market:


  • Futures on the S&P 500 rose 0.5% at 10:45 a.m. Tokyo time. The S&P 500 fell 0.7%

  • Nasdaq 100 futures climbed 0.5%. The Nasdaq 100 fell 2.3%

  • The Topix Index fell 0.4%

  • The S&P/ASX 200 Index rose 0.7%

  • The Hang Seng Index rose 2.8%

  • The Shanghai Composite Index rose 0.3%

  • Euro Stoxx 50 futures fall 0.4%


  • The Bloomberg Dollar Spot Index was little changed

  • The Euro was little changed at $1.0077

  • The Japanese yen rose 0.2% to 146.07 per dollar

  • The yuan abroad was little changed at 7.1932 to the dollar


  • Bitcoin was little changed at $20,739.65

  • Ether rose 0.4% to $1,560.32



  • West Texas Intermediate rose 0.4% to $88.26 a barrel

  • Gold rose 0.2% to $1,667.69 an ounce

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