▸ US stocks climb as investors turn focus to possible Fed rate cut
▸ Europe-wide Stoxx 600 index and Asian bourses gain ground
▸ Greenback slides against basket of other major currencies
US stocks rose yesterday as investor focus shifted to the possibility of Federal Reserve interest rate cuts, following disappointing economic data at the end of last week.
Weaker than expected non-farm payrolls data fuelled investor fears about a sustained growth slowdown in the US, sending stocks lower and bond prices higher on Friday.
But equity indices regained ground yesterday, with the blue-chip S&P 500 index up 0.3 per cent by early afternoon in New York and the tech-heavy Nasdaq Composite adding 0.7 per cent.
Following Friday's data, traders moved to fully price in a quarter-point interest rate cut by the Fed this month and some even started speculating on a bumper half-percentage point cut.
“We think the August labour market data has opened the door to a ‘catch-up' 50 basis point rate cut at the September FOMC meeting,” said John Davis, US rates strategist at Standard Chartered.
Information
- Show
- FrequencyUpdated daily
- Published10 October 2025 at 23:00 UTC
- Length1 min
- Episode1
- RatingClean