U.S. stock futures indicate a lower open, pulling back from last week’s record highs as investors adopt a cautious stance ahead of a busy week featuring key inflation data and numerous Fed speakers; gold is surging to new all-time highs on safe-haven demand, while the dollar is mixed and Treasury yields are steady. In the currency markets, the U.S. dollar is attempting to stabilize after last week’s volatility, with the Euro firming on ECB policy expectations, while the British Pound remains under pressure from fiscal concerns and the Japanese Yen is weighed down by political uncertainty. <\/p>\n\n\n\n
U.S. equity markets are set for a subdued and slightly lower open this morning as investors catch their breath following a milestone week that saw the Dow Jones Industrial Average and S&P 500 close at new all-time highs. Last week’s rally was ignited by the Federal Reserve’s 25-basis-point interest rate cut, its first of the year, which reassured investors that policymakers are leaning dovish in response to weakening labor market signals. However, the Fed’s vague guidance on the future path of policy has left the market in a data-dependent mode. <\/p>\n\n\n\n This week, the focus will be squarely on commentary from a host of Fed officials, including Chair Jerome Powell on Tuesday, and the release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, on Friday. Economists expect the report to show sticky pricing pressures, which will be a key input for the Fed’s next move. <\/p>\n\n\n\n Global markets are starting the week on a quiet note. European markets are listless with a light economic calendar, while Asian markets were mixed, with Japan’s Nikkei posting solid gains. In corporate news, Goldman Sachs raised its S&P 500 year-end target, adding to the bullish sentiment. However, a looming deadline to avert a U.S. government shutdown at the end of the month is a background concern. In commodities, gold is surging to new records, while oil is gaining on geopolitical tensions.<\/p>\n\n\n\n The U.S. economic calendar is very light today. The focus remains on the heavy slate of Fed speakers and the PCE inflation report later this week. Today’s Calendar: No major U.S. data, but numerous central bank speakers are on tap. <\/p>\n\n\n\n Key This Week: <\/p>\n\n\n\n Gold prices surged to a new record high, with spot gold touching $3,711.55 per ounce before settling slightly lower. The rally is fueled by the Fed’s dovish rate cut last week, which has sent the U.S. dollar lower and increased the appeal of the non-yielding metal. Crude oil prices are also advancing, with WTI up 0.93% to $63.26\/bbl, supported by escalating geopolitical tensions in Eastern Europe and the Middle East, and the prospect of tighter sanctions on Russian oil. <\/p>\n\n\n\n In the currency markets, the U.S. dollar is attempting to find its footing after last week’s volatility. The EUR\/USD pair has seen its winning streak stall, trading around 1.1750, as investors await fresh catalysts. The British Pound is under pressure, with GBP\/USD in a four-day losing streak around 1.3460, weighed down by concerns over UK government finances. The Japanese Yen has weakened at the start of the week, with USD\/JPY steady near 148.00, as political uncertainty in Japan may be causing the Bank of Japan to delay policy normalization. <\/p>\n\n\n\n U.S. Treasury yields are little changed in early trading, with the 10-year yield up slightly at 4.134%, as the bond market digests the Fed’s cut and awaits this week’s key inflation data. Concerns over a potential partial U.S. government shutdown are also a background factor for bonds. Bitcoin is trading lower, down 2.4% to below $113,000, as the crypto market sees some profit-taking and altcoins slump.<\/p>\n\n\n\n The market will be heavily influenced by the constant stream of commentary from Federal Reserve officials this week, culminating in a speech from Chair Powell on Tuesday. These remarks will be intensely scrutinized for any further clues on the path of monetary policy. The main event, however, will be Friday’s PCE inflation report, which is the Fed’s preferred gauge and will be a critical input for future rate decisions. In the meantime, any developments on the trade front or regarding the looming U.S. government shutdown deadline could inject fresh volatility.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Closing Recap U.S. stock futures indicate a lower open, pulling back from last week’s record highs as investors adopt a cautious stance ahead of a busy week featuring key inflation data and numerous Fed speakers; gold is surging to new all-time highs on safe-haven demand, while the dollar is mixed and Treasury yields are steady.\u2026<\/p>\n","protected":false},"featured_media":0,"template":"","review_category":[4],"class_list":["post-3840","reviews","type-reviews","status-publish","hentry","review_category-daily-reviews"],"acf":[],"yoast_head":"\nIndex (Futures)<\/td> Up\/Down<\/td> % Change<\/td> Last<\/td><\/tr> E-Mini Dow Continuous Contract<\/td> -160<\/td> -0.0034<\/td> 46491<\/td><\/tr> E-Mini S&P 500 Future Continuous<\/td> -21<\/td> -0.0031<\/td> 6701.5<\/td><\/tr> E-Mini Nasdaq 100 Index Continuous<\/td> -80.25<\/td> -0.0032<\/td> 24786<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Economic Calendar<\/h2>\n\n\n\n
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Commodities, Treasuries and Currencies <\/h2>\n\n\n\n
Asset<\/td> Up\/Down<\/td> Unit \/ % Change<\/td> Last<\/td><\/tr> WTI Crude<\/td> 0.58<\/td> USD\/bbl<\/td> 63.26<\/td><\/tr> Brent<\/td> 0.32<\/td> USD\/bbl<\/td> 67<\/td><\/tr> Gold<\/td> 39.4<\/td> USD\/oz<\/td> 3745.2<\/td><\/tr> Silver<\/td> 0.863<\/td> USD\/oz<\/td> 43.815<\/td><\/tr> EUR\/USD<\/td> 0.0007<\/td> USD<\/td> 1.1754<\/td><\/tr> USD\/JPY<\/td> -0.03<\/td> JPY<\/td> 147.94<\/td><\/tr> 10-Year Note<\/td> 0.003<\/td> %<\/td> 0.04134<\/td><\/tr> Dollar Index<\/td> 0.06<\/td> Points<\/td> 97.71<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Looking Ahead <\/h2>\n\n\n\n