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Nasdaq 100 futures get a lift from lower PCE price index
As mentioned in the previous update, the US equity futures have gotten a lift from the lower than expected Q3 US PCE price index. That has fuelled the speculation that the Fed will cut interest rates earlier than previously envisaged next year and provided the perfect excuse for equity futures to rise even more. The Dow Jones and the Nasdaq 100 are going to open higher this afternoon and there is little doubt about that now. The Nasdaq 100 is leading the way, as it tends to feed off this dynamic more than the Dow. The index is currently priced to reopen around 16,730, but it was pricing that higher not long ago. The index closed last night at 16,554.
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Nasdaq 100 slides below 18,500
Well, so much for the higher opening for the Nasdaq 100 earlier this afternoon. The push back above 18,900 looks some way off now, as the index... -
Now risk aversion takes hold of the USD/JPY as US yields fall back again
Well, you were warned about the price action likely to be seen in the USD/JPY this afternoon and it sure is volatile and since the last update noted... -
US stocks slide further into the red- S+P 500 falls below 5,450
As just mentioned in the previous update, the US stock markets have turned sharply lower since opening this afternoon. Hence we now have a fresh...
