Markets Worried About Fed-preferred PCE Inflation

Renewed rate uncertainty ahead of the release of the PCE-based inflation readings from the U.S. on Thursday swayed market sentiment across asset classes and regions. Anxiety lingered at the onset of the data-heavy week for major economies. The upcoming speech by ECB President Christine Lagarde at the European Parliament also weighed on sentiment.

Wall Street Futures portend minor losses on opening. Major European benchmarks are trading below the flatline. Asian shares finished mixed.

The Dollar Index declined amidst the Dollar’s weakness. Bond yields moved in a mixed fashion. Crude oil prices declined as supply concerns faded. Rate cut uncertainty dragged down gold prices. Cryptocurrencies are moving mixed.

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

Stock Indexes:

DJIA (US30) at 39,101.50, down 0.08%
S&P 500 (US500) at 5,088.70, down 0.00%
Germany’s DAX at 17,427.14, up 0.04%
U.K.’s FTSE 100 at 7,683.55, down 0.29%
France’s CAC 40 at 7,942.85, down 0.30%
Euro Stoxx 50 at 4,866.25, down 0.13%
Japan’s Nikkei 225 at 39,208.50, up 0.28%
Australia’s S&P ASX 200 at 7,652.80, up 0.12%
China’s Shanghai Composite at 2,977.02, down 0.93%
Hong Kong’s Hang Seng at 16,634.74, down 0.54%

Currencies:

EUR/USD at 1.0853, up 0.32%
GBP/USD at 1.2694, up 0.12%
USD/JPY at 150.60, up 0.07%
AUD/USD at 0.6554, down 0.09%
USD/CAD at 1.3513, up 0.06%
Dollar Index at 103.75, down 0.18%

Ten-Year Govt Bond Yields:

U.S. at 4.244%, down 0.37%
Germany at 2.3780%, up 0.68%
France at 2.846%, up 0.71%
U.K. at 4.1330%, up 0.68%
Japan at 0.676%, down 1.60%

Commodities:

Brent Oil Futures (May) at $80.54, down 0.32%.
Crude Oil WTI Futures (Apr) at $76.24, down 0.33%.
Gold Futures (Apr) at $2,041.60, down 0.38%.

Cryptocurrencies:

Bitcoin at $51,125.08, down 1.06%
Ethereum at $3,057.39, up 0.82%
BNB at $391.28, up 2.13%
Solana at $101.41, down 1.18%
XRP at $0.5344, down 1.86%.

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