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.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: Commodities fall, stocks steady ahead of Fed, BOJ rate decisionsThe S&P 500 has steadied after a two-week downturn and futures were flat
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Tech tailspin whacks world stocks, yen roars to 2-½-month peakTraders react to the worst day for the Nasdaq since 2022 after underwhelming earnings from Alphabet and Tesla
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: World stocks slip on report U.S. might tighten technology curbs on ChinaEuropean stocks were trading lower while Wall Street futures were in negative territory
Source: globeandmail - 🏆 5. / 92 Read more »

Fed responds to economic data, not politics or stocks, says Chicago Fed's GoolsbeeThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Fed responds to economic data, not politics or stocks, says Chicago Fed's GoolsbeeChicago Federal Reserve Bank President Austan Goolsbee on Thursday reiterated that the central bank's job is not to respond to stock market routs or...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Premarket: European stocks rise as traders wait for U.S. inflation dataHopes for Fed rate cuts grow
Source: globebusiness - 🏆 31. / 66 Read more »