CANBERA (dpa-AFX) - A likely softening in the PCE-based inflation readings in the U.S. that is expected to reinforce the likelihood of a Fed rate cut in September boosted sentiment across world markets. Positive earnings updates from the corporate sector also supported market mood.
In data due on Friday morning, markets expect the year-on-year PCE price index and its core component to edge down to 2.5 percent from 2.6 percent in May. The month-on-month PCE price index and its core component are both seen at 0.1 percent. The PCE price index was flat in May whereas the core component was at 0.1 percent.
Wall Street Futures are trading in mildly positive territory. European benchmarks are also trading in the green. Asian stock indexes finished trading on a mostly positive note.
Dollar Index hovered close to the flatline. Bond yields mostly hardened but eased in the U.S. Crude oil prices slipped amidst persisting concerns about demand. Gold recovered a small portion of the massive losses on Thursday. Cryptocurrencies rebounded.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 40,218.00, up 0.71% S&P 500 (US500) at 5,444.20, up 0.83% Germany's DAX at 18,365.35, up 0.34% U.K.'s FTSE 100 at 8,242.29, up 0.68% France's CAC 40 at 7,494.84, up 0.91% Euro Stoxx 50 at 4,854.15, up 0.89% Japan's Nikkei 225 at 37,654.00, down 0.64% Australia's S&P ASX 200 at 7,921.30, up 0.76% China's Shanghai Composite at 2,890.90, up 0.14% Hong Kong's Hang Seng at 17,021.31, up 0.10%
Currencies:
EUR/USD at 1.0856, up 0.11% GBP/USD at 1.2871, up 0.16% USD/JPY at 154.44, up 0.33% AUD/USD at 0.6562, up 0.37% USD/CAD at 1.3814, down 0.07% Dollar Index at 104.35, down 0.01%
Ten-Year Govt Bond Yields:
U.S. at 4.247%, down 0.28% Germany at 2.4390%, up 1.08% France at 3.138%, up 0.74% U.K. at 4.1745%, up 0.98% Japan at 1.068%, up 0.85%
Commodities:
Brent Oil Futures (Sep) at $81.96, down 0.50%. Crude Oil WTI Futures (Sep) at $77.87, down 0.52%. Gold Futures (Aug) at $2,371.90, up 0.78%.
Cryptocurrencies:
Bitcoin at $67,323.00, up 5.13% Ethereum at $3,247.80, up 2.70% BNB at $576.24, up 2.49% Solana at $179.30, up 6.78% XRP at $0.5998, down 0.81%.
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