Financial Associated Press, October 4 (Editor Niu Zhanlin) U.S. stock futures continued to rise before the eastern time on Tuesday, the Nasdaq 100 futures rose to 2%, the S&P 500 futures rose 1.6%, and the Dow futures rose 1.3%.
Signs that some of the headwinds facing U.S. stocks are easing, boosted investor sentiment. Traders trimmed bets on rate hikes amid hopes that the latest signs of weakness in the U.S. economy will prompt the Federal Reserve to reconsider its aggressive monetary tightening policy.
Speculation is growing that a devastating global wave of monetary tightening is drawing to a close. On the day, the Reserve Bank of Australia unexpectedly slowed the pace of its recent rate hikes at its policy meeting.
“Central banks may start to realise 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 Still skeptical about the Fed’s imminent pivot: “Friday’s jobs report could spark a new round of hawkish repricing, a positive event for the dollar.”
Hani Redha, a portfolio manager at PineBridge Investments, pointed out: “Isn’t the bear market declining all the time, we expect U.S. 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 collectively rose by more than 2%. As of the close, the Dow Jones index rose 2.66%, the largest one-day gain since June 24 this year, at 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 across the board, recording their biggest one-day gain in more than three months. As of press time, the French CAC 40 index rose 3.35%, the Europe Stoxx 50 index rose 3.28%, the German DAX index rose 2.82%, and the UK FTSE 100 index rose 2.03%.
(Source: Yingwei Finance) Company news
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Notable events in the U.S. stock market (Beijing time)
October 4
21:15 2022 FOMC vote committee, Cleveland Fed President Mester delivers a speech
22:00 Monthly rate of US factory orders in August
23:00 ECB President Lagarde delivers a speech