Global stocks mixed after Wall Street rallies as ‘time has come’ for rate cuts
U.S. stock index futures edged higher on Monday, with investors focused mainly on results from AI-favorite Nvidia and a key inflation report due later in the week, while confidence in a September interest-rate cut by the central bank remained high.
Traders are now betting on a 25-basis-point or 50-basis-point rate cut in September. Odds of the former have dropped to 63.5%, from more than 70% in the previous week, while odds of a 50-bps cut have risen to 36.5%, from about 30% last week, according to the CME Group’s Fed Watch tool. As earnings season draws to a close, chip designer Nvidia , whose results are scheduled on Wednesday, traded nearly 1% higher in premarket trading.
B Riley Financial dropped 1.8% after the lender announced a notification of delinquency with the Nasdaq. Oil prices rose after Israel and the Lebanese militant group Hezbollah traded heavy fire on Sunday, triggering potential supply worries. The Dow Jones Industrial Average rose 1.1% to 41,175.08, crossing the 41,000 level for the first time since it set its own record in July, while the Nasdaq composite jumped 1.5% to 17,877.79.
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