
S&P 500 futures traded in fluctuation Tuesday night after the index ended its record-setting streak, as investors monitored earnings and awaited the Fed’s rate decision. The broad index futures edged up less than 0.1%, Nasdaq 100 futures rose 0.1%, while Dow Jones Industrial Average futures dipped 23 points.
This follows Tuesday’s market decline, when the S&P 500 fell 0.3%, breaking a six-day record-setting streak. The Dow dropped 0.5% and Nasdaq lost 0.4%.
Markets anticipate the Fed’s rate announcement today, with a 98% probability of maintaining rates at 4.25%-4.5%, according to the CME’s FedWatch tool. Investors will closely watch Powell’s press conference for policy insights, particularly as Trump’s administration pushes for lower rates.
Asia-Pacific markets traded mixed Wednesday after U.S.-China talks in Sweden ended without a tariff truce extension. Any postponement awaits President Trump’s approval, negotiators said.
Australia’s Q2 inflation fell to on yearly basis, its lowest since March 2021 and below the 2.2% forecast. This figure approaches the lower end of the Reserve Bank of Australia’s 2%-3% target range.
In the forex market, most major currencies fell against the US dollar as the greenback continues to climb, thanks to the trade deal the U.S. Struck with the European Union. EURUSD fell 0.36% yesterday to 1.1546, the lowest level in a month. USDCAD rose 0.22% to 1.3769, and it continues to rise.
Gold prices are still fluctuating. The precious metal recovered most of its losses this week, and it’s trading around $3,324 now.
Oil jumped almost 4% yesterday, fueled by optimism in trade negotiations progress and the U.S.-Euro trade deal announced last Sunday. Progress in trade agreements boosts demand for oil.
The crypto market fell for the third day in a row after a wave of profit taking, long liquidations, and due to a stronger dollar. Bitcoin dropped to $116,900 yesterday before recovering slightly. The cryptocurrency is currently trading at $118,126
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