US Stocks Rise Ahead of CPI & AI Shares Slide - Europe Market Wrap
US stocks edged higher as investors remained cautious ahead of September CPI and a wave of corporate developments. S&P 500 futures rose 0.2%, while Treasuries and the Dollar were little changed. Money markets continued to price at least three 25 bps Fed rate hikes over the next 12 months, while Fed's Williams said one hike this year may be appropriate, with no further tightening needed in 2027. Chip stocks remained under pressure, with an ETF tracking the sector signalling a sixth consecutive session of losses. ASML rose in Amsterdam despite warning that supply would not fully meet demand over the next two years. Europe's Stoxx 600 gained 0.6%, supported by real estate and consumer stocks. BofA fell more than 3% in early trading after disappointing fixed-income and equities trading results, adding to pressure following a $1.2B fine. Morgan Stanley is set to conclude earnings from Wall Street's largest banks, while Anthropic is expected to meet prospective investors ahead of a potential IPO. Brent crude resumed gains as elevated oil prices continued to complicate the inflation outlook. Meanwhile, Anthropic's investor meeting comes amid growing scrutiny over the sustainability of AI
US stocks edged higher as investors remained cautious ahead of September CPI and a wave of corporate developments. 2%, while Treasuries and the Dollar were little changed. Money markets continued to price at least three 25 bps Fed rate hikes over the next 12 months, while Fed's Williams said one hike this year may be appropriate, with no further tightening needed in 2027. Chip stocks remained under pressure, with an ETF tracking the sector signalling a sixth consecutive session of losses.
ASML rose in Amsterdam despite warning that supply would not fully meet demand over the next two years. 6%, supported by real estate and consumer stocks. 2B fine. Morgan Stanley is set to conclude earnings from Wall Street's largest banks, while Anthropic is expected to meet prospective investors ahead of a potential IPO.
Brent crude resumed gains as elevated oil prices continued to complicate the inflation outlook. Meanwhile, Anthropic's investor meeting comes amid growing scrutiny over the sustainability of AI investment, with the company facing intensifying competition from Alphabet and other US and international rivals.