Premarket: Stocks creep up, investors pin hopes on modest Fed rate cut

Stock markets around the world were on firmer ground on Thursday, continuing to recover from an early August rout, on optimism that the U.S. Federal Reserve would start to cut interest rates soon.

Japan’s blue-chip Nikkei rose 0.8%, lifted by data showing the economy rebounded strongly in the second quarter, while Chinese blue chips firmed almost 1% as lacklustre economic data boosted expectations for more stimulus. “The tentative rebound in risk appetite has happened surprisingly fast, so I would be cautious,” said Nordea chief market analyst Jan von Gerich.

“If we were to see a negative retail control sales number, it would likely set alarm bells ringing, given the market’s recent concerns about a recession in the U.S.,” said IG market analyst Tony Sycamore.

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