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Big Market mover of the day: DJIA falling after Fed’s Powell signals no rate cuts in the near future. Volatility Index (VIX) pushes up 11.36%.
Asia: ASX 200 +0.80
Europe: DAX +0.13%, FTSE -0.44%, CAC +0.10% EUROSTOXX -0.07%
US: DJIA -0.58%, S&P 500 -0.75%, NASDAQ -0.57%, RUSSELL 2000 -0.78% VIX, +11.36%
Energy: OIL -0.49%, BRENT +0.11%, NAT GAS +1.55%
The US markets had priced in a FED rate cut, but FOMC Chairman Powell’s comments today post rate decision suggest the FED is not considering a cut any time soon. This was enough to send the broader US indexes down into the close. Asian markets see the ASX 200 up with the rest of Asia on holiday. Oil gave up 49 basis points over yesterday’s close. However, Natural Gas was up 1.55% on the day.
The US corporate earnings of interest tomorrow include Abiomed (ABMD), Under Armour (UAA), Teva Pharmaceutical (TEVA), and Wayfair (W) before the market open. Fortinet (FTNT), Activision Blizzard (ATVI), US Steel Corporation (X), and Gilead Sciences (GILD) all report after the close for Thursday. The Economic calendar is highlighted by the Bank of England (BOE) Rate Decision and Asset Purchase Target at 11:00 GMT followed by Mark Carney’s press conference at 11:30 GMT. Also of note on the calendar are US Initial Jobless Claims data due at 12:30 GMT as well as US Durable Goods and Factory Orders at 14:00 GMT