Tech Gains Help Offset Rate Cut Disappointments

Sectoral gains, especially from the tech sector helped diminish the disappointment triggered by the slower-than-expected monetary policy easing. Meanwhile markets await the interest rate review by the Bank of Japan due later in the day. ECB’s interest rate decision would be known on Thursday.

Wall Street Futures are trading with mild gains. Major European benchmarks have also gained. Asian stocks however finished trading on a mixed note amidst concerns over economic recovery in China. PBoC’s status quo on rates also weighed.

Dollar Index edged lower. Bond yields mostly eased. Demand concerns dampened crude oil prices. Gold prices declined amidst fading hopes of immediate rate cuts. Cryptocurrencies extended losses.

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

Stock Indexes:

DJIA (US30) at 37,895.00, up 0.08%
S&P 500 (US500) at 4,850.90, up 0.23%
Germany’s DAX at 16,642.13, up 0.53%
U.K.’s FTSE 100 at 7,477.04, up 0.24%
France’s CAC 40 at 7,417.03, up 0.62%
Euro Stoxx 50 at 4,476.15, up 0.61%
Japan’s Nikkei 225 at 36,546.95, up 1.71%
Australia’s S&P ASX 200 at 7,476.60, up 0.75%
China’s Shanghai Composite at 2,756.34, down 2.68%
Hong Kong’s Hang Seng at 14,961.18 down 2.27%

Currencies:

EUR/USD at 1.0897, up 0.00%
GBP/USD at 1.2708, up 0.06%
USD/JPY at 148.11, down 0.02%
AUD/USD at 0.6589, down 0.12%
USD/CAD at 1.3428, down 0.01%
Dollar Index at 103.26, down 0.03%

Ten-Year Govt Bond Yields:

U.S. at 4.135%, down 0.29%
Germany at 2.2780%, down 1.17%
France at 2.798%, down 0.99%
U.K. at 3.9445%, up 0.39%
Japan at 0.646%, down 0.92%

Commodities:

Brent Oil Futures (Mar) at $78.12, down 0.56%.
Crude Oil WTI Futures (Mar) at $72.86, down 0.53%.
Gold Futures (Feb) at $2,024.75, down 0.22%.

Cryptocurrencies:

Bitcoin at $40,964.63, down 1.71%
Ethereum at $2,412.75, down 2.45%
BNB at $315.48, down 0.79%
Solana at $88.15, down 4.95%
XRP at $0.5362, down 2.80%.

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