Markets are betting central banks are done hiking interest rates, inflation is falling and corporate earnings are robust - and they now have just one more hurdle to clear to complete what's set to be the best week of 2023.
In advance of the release, S&P500 futures stepped back a bit from Thursday's highs when the cash index boasted its biggest one-day gain since April by adding almost 2%. Even the small cap Russell 2000 jumped 2.7% in its biggest gain since June. U.S. Treasury and equity market volatility gauges have subsided to their lowest levels since early last month.
With U.S. Secretary of State Antony Blinken in Isreal seeking a pause in the Gaza war as Israeli troops surround Gaza City, investors will likely keep a wary eye on the conflict there as the weekend nears.
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