Global Markets:
- Asian Stock Markets : Nikkei up 1.82%, Shanghai Composite down 0.25% Hang Seng down 1.08% ASX down 0.40%
- Commodities : Gold at $4,338.87 (-1.13%) Silver at $69.080 (-2.09%), Brent Oil at $78.72 (-2.30%), WTI Oil at $75.11 (-2.41%)
- Rates : US 10-year yield at 4.439, UK 10-year yield at 4.7575, Germany 10-year yield at 2.9260
News & Data:
- (USD) Federal Funds Rate 3.75% to 3.75% expected
Markets Update:
U.S. stock futures moved higher early Thursday after the Federal Reserve signaled that interest rate hikes remain possible. S&P 500 futures gained 0.83%, Nasdaq 100 futures rose 1.32%, and Dow futures advanced more than 280 points.
Asian markets were mixed but largely positive. South Korea’s Kospi surged over 1% to a record 9,000, supported by gains in SK Hynix and Samsung Electronics. Japan’s Nikkei 225 climbed nearly 1.8%, crossing the 71,000 mark for the first time, while the Topix also posted strong gains. In contrast, Australia’s S&P/ASX 200 declined 0.29%, Hong Kong’s Hang Seng fell 0.76%, and China’s CSI 300 remained flat.
At its first policy meeting under Fed Chair Kevin Warsh, the Federal Reserve kept interest rates unchanged at 3.5%–3.75%. However, policymakers’ updated projections suggested rates could rise in 2026, with the median year-end forecast increasing to 3.8% from 3.4% in March.
Markets reacted negatively to the Fed’s hawkish stance. The Dow fell 507 points after touching a record intraday high, while the S&P 500 and Nasdaq lost 1.21% and 1.34%, respectively. Treasury yields also moved higher, with the two-year yield reaching 4.22%.
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