Japan is on holiday but Nikkei futures are trading 740 points above the cash close. Wall Street and European futures were all up between 0.2% and 0.6%.
The dollar and euro extended gains on the yen in the wake of Friday's dovish comments by the head of the Bank of Japan.
The S&P is up 1% so far in September, historically the weakest month for stocks, and has gained 19% year-to-date to reach all-time highs.
More than 20 billion shares changed hands on U.S. exchanges on Friday, the busiest session since January 2021. Analysts at Bank of America noted the S&P rises an average of 21% when there is no recession in the 12 months after the start of Fed cuts.
Markets were still basking in the afterglow of the Federal Reserve's half-point rate cut, with futures implying a 50% probability it will deliver another outsized move in November.
At least nine Fed policy makers are speaking this week, including prepared remarks from Chair Jerome Powell, two governors and New York Fed President John Williams.
Much will depend on what the Fed's preferred inflation gauge, core personal consumption expenditures (PCE), shows on Friday. Analysts expect a 0.2% month-on-month rise taking the annual pace to 2.7%, while the headline index is seen slowing to just 2.3%.
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