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U.S. stocks edge higher on Fed-pause bets; Disney drops - BNN Bloomberg

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U.S. equity futures ticked higher and European stocks rose as more investors said the Federal Reserve is likely to pause interest-rate hikes on the back of cooling inflation data.

Contracts on the S&P 500 and the Nasdaq 100 advanced by about 0.3 per cent. In U.S. premarket trading, Walt Disney Co. dropped after predicting a wider loss for its streaming service this quarter. Robinhood Markets Inc. rose following better-than-expected results from the trading platform. Travel and personal-care stocks led gains in European equities.

“It's definitely optimistic to think about a rate cut, but not so optimistic to think about a rate pause,” Sunaina Sinha Haldea, global head of private capital advisory at Raymond James, said on Bloomberg Television. “The print gives the Fed what it needs to contemplate a pause.” The Bloomberg Dollar Spot Index rose, rebounding from Wednesday's losses. Yields on 10-year Treasuries were dropped by two basis points.

Meanwhile, an ECB survey out Thursday showed that consumer expectations for euro-zone inflation rose “significantly” in March, with projections for the next 12 months rising to five per cent from 4.6 per cent in February.

 

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