Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
U.S. stock index futures saw a slight rise in after-hours trading on Thursday, following a mildly negative session on Wall Street. The uptick came despite stronger-than-expected consumer inflation data, which raised concerns about the Federal Reserve's potential interest rate decisions.
Key Focus: Q3 Earnings and Tesla’s Robotaxi Reveal
Investors are gearing up for the third-quarter earnings season, which starts early on Friday. Additionally, the market eagerly awaits Tesla’s highly anticipated robotaxi announcement, which could revolutionize the autonomous driving industry.
As of 19:10 ET (23:10 GMT), S&P 500 futures rose 0.1% to 5,834.75 points, while Nasdaq 100 futures also gained 0.1%, reaching 20,453.50 points. Dow Jones futures followed suit, edging up by 0.1% to 42,782.0 points.
Inflation Data Boosts Bets on Slower Interest Rate Cuts
September's Consumer Price Index (CPI) data revealed stronger-than-expected inflation numbers. While inflation eased, it didn’t decline as much as analysts had forecast. This has sparked speculation that the Federal Reserve may opt for a more measured approach to cutting interest rates.
Many traders are now betting on a 25-basis-point rate cut in November, following the latest inflation reading. Federal Reserve officials, including Atlanta Fed President Raphael Bostic, hinted that holding rates steady in November could also be an option.
The possibility of a slower rate cut path could pose challenges for Wall Street, as stock valuations have reached record highs, partly based on expectations of aggressive rate reductions.
Upcoming Data: Producer Price Index and Consumer Sentiment
Friday's Producer Price Index (PPI) data is set to provide further insights into the state of the economy. Additionally, a key consumer sentiment reading will help gauge the mood of American consumers amid ongoing inflation concerns.
However, the release of higher-than-expected weekly jobless claims tempered some expectations for a larger rate cut. A weaker labor market is expected to keep the Federal Reserve on track with its easing policy.
Despite these concerns, Wall Street managed to limit its losses, buoyed by gains in major technology stocks. The S&P 500 dipped 0.2% to 5,780.05 points, while the Nasdaq Composite remained relatively flat at 18,283.90 points. The Dow Jones Industrial Average slipped 0.1% to 42,454.12 points.
Investor Spotlight: Major Banks and Tesla’s Robotaxi
The third-quarter earnings season remains a key focus for investors, with major banks including JPMorgan Chase & Co., Wells Fargo & Company, and Bank of New York Mellon scheduled to report on Friday. Next week, earnings reports from Goldman Sachs, Bank of America, and Citigroup will provide further market direction.
In the tech space, Tesla Inc. is set to unveil its robotaxi during a special event on Thursday evening. This marks a significant shift towards autonomous driving and artificial intelligence for the electric vehicle manufacturer, which is currently grappling with declining vehicle sales. Tesla’s robotaxi reveal is expected to be a major milestone in the autonomous driving industry.
