© Reuters US stocks pre-market: The market expects the end of the financial tightening wave
Financial Associated Press, October 4 (Editor Niu Zhanlin) US stock futures continued to rise before eastern time on Tuesday, Nasdaq 100 futures rose to 2%, S&P 500 futures rose 1.6%, and Dow futures rose 1.3%.
Signs that some of the headwinds facing US stocks are easing boosted investor sentiment. Traders trimmed bets on rate hikes amid hopes that the latest signs of weakness in the US economy will prompt the Federal Reserve to reconsider its aggressive monetary tightening policy.
Speculation is mounting that a devastating global wave of financial tightening is winding down. On the day, the Reserve Bank of Australia unexpectedly slowed the pace of its recent rate hikes at its policy meeting.
“Perhaps central banks will start to realize that raising rates too quickly (especially in Europe) will lead to a severe recession, so they will slow down and reduce volatility,” said Sorensen, chief economist at Danske Bank. But ING strategists are still skeptical about the imminent Fed Pivot: “Friday’s jobs report could trigger a new round of hawkish revaluation, a positive event for the dollar.”
Hani Redha, portfolio manager at PineBridge Investments, pointed out: “Isn’t the bear market declining all the time, we expect US stocks to be in a bear market throughout the year, with a very typical bear market rally in the middle, which is to be expected.”
Market dynamics
On the previous trading day, the three major indexes together rose more than 2%. Finally, the Dow Jones index rose 2.66%, the biggest one-day increase since June 24 this year, which was 29,490.89 points; the S&P 500 rose 2.59%, the best performance since July 27, at 3,678.43 points; The Starq rose 2.27% to 10,815.43.
European markets, which are trading, rose broadly, recording their biggest one-day gain in more than three months. As of press time, France’s CAC 40 index rose 3.35%, Europe’s Stoxx 50 index rose 3.28%, Germany’s DAX index rose 2.82%, and the UK’s FTSE 100 index rose 2.03%.
(Source: Yingwei Finance) Company news
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Notable events in the US stock market (Beijing time)
October 4
21:15 FOMC 2022 vote committee, President Cleveland Fed Mester delivers a speech
22:00 US factory orders monthly rate in August
23:00 ECB President Lagarde delivers a speech
