China Inflation Accelerates in August as CPI, PPI Rise 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Asian Stocks Mixed as Korean Chipmakers Rally 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
German Inflation Accelerates to 2.9% in August 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
South Korea GDP Surges on Chip and AI Boom 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
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U.S. Stock Futures Stabilize After Record Highs on Wall Street
U.S. stock index futures stabilized on Thursday evening following another day of record highs on Wall Street, as markets digested the Federal Reserve's outlook on future rate cuts.
Market Reactions to Trump’s 2024 Victory and Fed’s Rate Cut
Wall Street continued to surge after Donald Trump’s win in the 2024 presidential election, which could bring expansionary policies in the coming years. Positive earnings reports, along with a drop in the dollar and Treasury yields, contributed to the upbeat market sentiment.
By 18:20 ET (23:20 GMT), S&P 500 Futures held steady at 6,006 points, while Nasdaq 100 Futures dipped slightly to 21,216.25 points. Dow Jones Futures remained flat at 43,933 points.
Federal Reserve Cuts Rates and Signals Cautious Outlook
The Federal Reserve cut its benchmark interest rate by 25 basis points to a range of 4.5% to 4.75%, aligning with expectations. Despite this, Fed Chair Jerome Powell stated that the results of the presidential election would not impact near-term monetary policy. Powell emphasized a data-driven approach to any future rate cuts, highlighting that inflation was cooling, while economic growth remained strong.
Markets are pricing in a 76.1% chance of another 25-basis-point rate cut in December, with a 23.9% chance of rates staying unchanged, according to CME Fedwatch.
Wall Street Continues to Rally Post-Trump Victory
The S&P 500 rose 0.7% to a record 5,973.10 points, while the NASDAQ Composite gained 1.5% to a new high of 19,269.36 points. The Dow Jones Industrial Average remained flat at 43,729.34 points but stayed close to its record high.
Trump’s election victory, alongside a potential Republican sweep of Congress, suggests fewer obstacles to major policy reforms, with expectations of looser fiscal policies and a strengthened dollar.
