The Federal Reserve is expected to make a decision on interest rate cuts today, with futures largely pricing in a 50bps rate cut. As of 8:15am, S&P futures remained unchanged and less than 1% from all-time highs, while Nasdaq futures gained 0.2%. Bond yields are mixed with the curve twisting steeper, and the USD is lower to start the day, trading near 2024 lows.
In premarket trading, Alphabet gained after its Google unit won a court fight over competition with the European Union. Shares in 23andMe are down 9.7% following the resignation of its independent board members. Applied Therapeutics shares jumped 40% after the company completed its late-cycle review meeting with the FDA on the ongoing New Drug Application review of govorestat.
Investors are hoping for the Fed to ease policy sufficiently to respond to recent signs of weakness in the economy, achieving a soft landing without stirring concerns that conditions are worse than markets appreciate.
European stocks are lower, with technology and heath care stocks falling the most. Auto and banking shares were the biggest outperformers. Stoxx 600 falls 0.4% to 515.48 with 384 members down, 192 up, and 24 little changed.
Asian stocks traded in a narrow range, with the MSCI Asia Pacific Index steady. Equities fell in India and Taiwan, while key gauges gained in Japan and mainland China. Markets in Hong Kong and South Korea were closed for holidays.
The rates market is currently
The Federal Reserve is expected to make a decision on interest rate cuts today, with futures largely pricing in a 50bps rate cut. As of 8:15am, S&P futures remained unchanged and less than 1% from all-time highs, while Nasdaq futures gained 0.2%. Bond yields are mixed with the curve twisting steeper, and the USD is lower to start the day, trading near 2024 lows.
In premarket trading, Alphabet gained after its Google unit won a court fight over competition with the European Union. Shares in 23andMe are down 9.7% following the resignation of its independent board members. Applied Therapeutics shares jumped 40% after the company completed its late-cycle review meeting with the FDA on the ongoing New Drug Application review of govorestat.
Investors are hoping for the Fed to ease policy sufficiently to respond to recent signs of weakness in the economy, achieving a soft landing without stirring concerns that conditions are worse than markets appreciate.
European stocks are lower, with technology and heath care stocks falling the most. Auto and banking shares were the biggest outperformers. Stoxx 600 falls 0.4% to 515.48 with 384 members down, 192 up, and 24 little changed.
Asian stocks traded in a narrow range, with the MSCI Asia Pacific Index steady. Equities fell in India and Taiwan, while key gauges gained in Japan and mainland China. Markets in Hong Kong and South Korea were closed for holidays.
The rates market is currently
