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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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