Global Stocks Are Positioned for 2024’s Longest Winning Run – Europe Market Wrap

Stocks edged up after a strong afternoon on Wall Street, amid expectations that the Fed will soon declare its readiness to begin decreasing interest rates.

MSCI’s all-country stock index was set for its ninth day of advances, the longest streak since December. US futures and Europe’s Stoxx 600 were little moved, while 10-year Treasury yields remained stable.

Traders are taking a break after Monday’s session in the US raised the S&P 500 for the ninth consecutive day. Stock volumes have been declining, with investors hesitant to make large wagers before central bankers convene for the Fed’s Jackson Hole economic symposium this week.

The Asian currency index reached its highest level since January, while oil fell the most in two weeks after the United States announced that Israel had accepted a cease-fire proposal in Gaza.