Europe midday mixed: futures firmer, cash equities weaker, oil lower, gold higher
S&P futures are up 0.2188%, Nasdaq futures are up 0.4359%, the 10-year yield is 5, USD/JPY is 155.146, and WTI crude is 103.85 after a 1.8709% day drop.
S&P 500 futures up 0.2188%US equity futures firmer while cash stocks are softer
Nasdaq futures up 0.4359%Tech futures outperform into the US setup
US 10-year yield at 5Rates stay elevated
WTI crude down 1.8709%Oil pulls back after a 2-day gain as US inventories rise
Lead: European cash equities are softer, but S&P futures and Nasdaq futures are firmer into the US setup. The ten-year yield is at 5, USD/JPY is 155.146, and WTI crude is 103.85 after a 1.8709% day drop.
Session narrative: SPY is down 0.4068%, QQQ is down 0.5442%, and IWM is down 0.9135%. VIX is 17, TLT is down 0.2903%, and the dollar index is 99.69.
Cross-asset check: Gold is 4388, silver is 65.08, and copper is 6.5, all higher on the day.
Themes & continuing stories: UK inflation stayed in line, leaving BoE pricing in view. Oil is easing after a 2-day gain as US inventories rose. AI headlines remain active.
What’s ahead: The FOMC decision is the main catalyst, with markets pricing a 92.5% likelihood of a Fed hike tomorrow.