The Market Brief
The market has stayed largely balanced and in consolidation mode, as it awaits the upcoming weekly jobless claims and personal consumption expenditure data later this week.
Let’s recap yesterday’s session and look ahead to what’s coming next!
Macro Viewpoint
U.S. stock index futures declined on Wednesday as investors remained cautious, holding back from making big bets.
Traders are seeking fresh catalysts after last week’s half-point Federal Reserve interest-rate cut spurred risk appetite and set the dollar on track to erase its gains this year.
Odds that the central bank will lower borrowing costs by another 50 basis points at its November meeting have ticked up to 58.2%, from a coin toss earlier in the week.
The next test for markets will be weekly jobless claims and personal consumption expenditure data for August due later in the week.