Daily Dose, EU

US Stocks Expected to Rise Before the Fed and Inflation – Europe Market Wrap

With just hours before the Fed announces its interest rate decision, traders are positioning themselves for the possibility of disruption from US inflation data landing, which might extend US stocks’ record-breaking rally.

The S&P 500 and Nasdaq 100 futures contracts saw a little increase following their closing at all-time highs in the previous trading session. The Dollar held steady after four days of gains. After climbing on a strong $39 billion auction, Treasury bonds remained stable.

The Stoxx 600 had a 0.5% increase led by banks, ending three sessions of losses. After falling for four days, French 10-year bonds finally rose, and President Emmanuel Macron ruled out quitting if his party did poorly in the next legislative election. The Euro made gains.

In terms of commodities, oil continued to rise as industry data indicated that US crude stockpiles were declining, defying IEA projections that the markets would experience a significant glut this decade.