Global Markets:
● Asian Stock Markets : Nikkei down 5.13%, Shanghai Composite down 1.98% Hang Seng down 1.13% ASX down 0.11%
● Commodities : Gold at $4,171.76 (1.56%) Silver at $56.198 (0.56%), Brent Oil at 104.48 (-1.48%), WTI Oil at 94.17 (-0.98%)
● Rates : US 10-year yield at 5.094, UK 10-year yield at 5.4313, Germany 10-year yield at 3.4666
News & Data:
● (USD) Core CPI m/m 0.3% to 0.2% expected
Markets Update:
U.S. stock futures declined on Wednesday night as investors assessed the outlook for inflation, upcoming economic data and corporate earnings following a broad market sell-off.
S&P 500 futures fell 0.2%, while Nasdaq-100 futures dropped 0.7%. Dow Jones Industrial Average futures edged up 22 points.
During Wednesday’s regular session, the Nasdaq Composite slid 1.9%, marking its steepest daily decline since July 23. The S&P 500 lost 1.1%, its biggest one-day drop since July 29, while the Dow fell just 0.1%.
Asian markets also came under significant pressure. South Korea’s Kospi plunged more than 6%, dragged lower by technology heavyweights SK Hynix and Samsung Electronics. Japan’s Nikkei 225 dropped 4.4%, Hong Kong’s Hang Seng Index declined 1%, and mainland China’s CSI 300 fell 1.41%. Australia’s S&P/ASX 200 slipped 0.85%.
Investors are increasingly concerned that the Federal Reserve could pursue a more aggressive monetary policy stance before year-end after September consumer prices rose faster than expected year over year.
Harris Financial Group managing partner Jamie Cox highlighted persistent inflationary pressures, pointing to energy supply disruptions and geopolitical conflicts as key factors complicating the outlook.
Attention now turns to Thursday’s economic releases, including September producer price index data, retail sales figures and weekly jobless claims, all scheduled for 8:30 a.m. ET.
Meanwhile, earnings season continues, with regional lenders U.S. Bancorp and PNC Financial Services, alongside Charles Schwab, set to report results. Investors will assess these updates for further clues about economic resilience and market direction.
Upcoming Events:
● 12:30 PM GMT – USD Core Retail Sales m/m
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