Jim Reid News

Subscribe to enjoy similar stories. Buy the dip? For most of the past week, that referred almost entirely to the salsa, guacamole, and blue cheese dressing for Super Bowl snacks. For stocks, cryptocurrencies, precious metals, and other risky assets, investors were more inclined to sell first and ask questions later.

Subscribe to enjoy similar stories. As the market digests another AI scare, we would suggest staying out of the fight. Other sectors and companies are proving resilient while tech sells off; stick with stocks toughing it out until the tech dust settles.

If you work in trading in either New York or London, you might want a lie-in this morning. A big day is coming, followed by a bigger night ahead, followed by what might turn into a big week and even month. 

By Amanda Cooper

By Huw Jones

(Reuters) — U.S. stock index futures edged higher on Friday, a day after the benchmark S&P 500 breached the 5,000-mark for the first time, while investors looked ahead to inflation data for hints on the timing of the Federal Reserve's first interest-rate cut.

interest-rate cuts could be just months away. The benchmark 10-year note yield has fallen by 60 basis points in November, as prices have soared, logging its biggest one-month drop since a 70-bps fall in December 2008, when the Federal Reserve slashed interest rates in response to a struggling economy and a distressed financial system. Yields were last up 1 bp at 4.28% in European trading. The U.S. economy has shown far more resilience than most expected — creating more jobs, maintaining spending and activity and all during 17 months of almost non-stop rate rises from the central bank to lower inflation. Consumer price pressure are abating fast, spending is holding up and there has been enough evidence in the data to suggest the economy is heading for a gentle slowdown rather than recession. In the space of a month, markets have shifted from an expectation for rates to fall by around 60 bps in the second half of the year to pricing a scenario in which the Fed will cut rates by a full percentage point by this time next year, with the possibility of the first drop as early as March. «When it comes to market pricing, a Q1 rate cut has gone from being a complete out-of-consensus view only a month ago, to a serious proposition now.

With central banks having hiked interest rates at breakneck speed and those rates likely to stay higher for longer while the lagged effects set in, the macroeconomic outlook for 2024 is far from clear.

US equity futures hinted at recovery from Wednesday’s retreat, even as a selloff intensified across bond markets worldwide. 

A rally in global stocks paused on Friday, though still on track for the best week since March, as earnings season in Europe and the US started to swing into gear.

It’s been quite a year for stock market investors, but optimism about the future is fading. 

If you thought September was a bad month for stocks, fasten your seat belts, because the equities markets may be headed even lower before year’s end.

Prices of bitcoin (BTC) and ethereum (ETH) fell today as traders feared more aggressive monetary policy tightening after the US Consumer Price Index (CPI) showed that inflation in the world’s largest economy has reached 7.5% year-over-year, coming in well above analysts’ expectations.

Market volatility looks set to stick around, with stock futures dropping after a wild Wall Street session that harked back to 2008, as the S&P 500 SPX, -1.95% and Nasdaq COMP, -2.42% dug out of deep losses to close higher.