Web Trader MT5 
China’s economy weakened further in August as retail sales rose 3.4% year-over-year, below the expected 3.9% and July’s 3.7%. Industrial output growth slowed to 5.2% from July’s 5.7%, marking its weakest level since August 2024. Consumer prices fell 0.4% year-over-year, with officials noting uncertainty around imported inflation.
South Korea’s Kospi hit a record 3,420. in early trading on Monday, after the government scrapped plans to raise stock investment taxes. The Kosdaq rose 0.15%. Asia-Pacific markets traded mixed as investors monitored US-China talks in Spain and new Chinese economic data.
Hang Seng rose 0.15%, Hang Seng Tech up 0.3%. China’s CSI 300 advanced 0.6% despite August’s economic slowdown, with real estate investment down 13% year-to-date.
US equity futures remained flat as investors await the Fed’s likely rate cut on Wednesday. Last week, the Nasdaq hit a record high, gaining 2%. The S&P 500 rose 1.6%, its best week since early August, while the Dow climbed 1% for its first positive week in three. These gains followed data showing a weakening labor market and tame inflation, boosting Fed rate-cut hopes.
U.S. stock futures held steady Sunday night after the Nasdaq hit a new record, as investors await the Fed meeting. Dow futures rose 0.05%, with S&P 500 and Nasdaq 100 futures also up 0.05%.
Markets ended a strong week with the Nasdaq closing at a record, up 2%. The S&P 500 gained 1.6%, its best week since early August, while the Dow had its first positive week in three.
Weak labor data and mild inflation boosted hopes for a Fed rate cut Wednesday. Markets predict a 96.2% chance of a quarter-point cut, with only 3.8% odds of a half-point reduction.
Lower rates could support stocks, which already benefit from AI enthusiasm despite economic risks. Investors are watching if Stephen Miran will join as Fed governor before the FOMC meeting.
Monday’s Empire State Manufacturing Index is expected at 4.5, down from 11.9. The Fed is widely expected to cut rates Wednesday, with markets pricing a 96% chance of a quarter-point reduction and just 3.6% odds of a half-point cut.
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