From Yahoo Finance: 2024-04-08 00:50:00

Global bonds dropped as traders reduced expectations for interest-rate cuts, causing small moves in stocks. Treasury yield approaches 4.5%, with interest-rate swaps indicating about 60 basis points of US monetary easing this year. Market awaits US inflation data and corporate earnings, with a focus on Wednesday’s consumer-price figures.

S&P 500 and Nasdaq 100 futures contracts stable after strong Wall Street close. Mining stocks lead gains in Europe, with Stoxx 600 Index rising. Tesla Inc. rallies in premarket trading, set to reduce year-to-date slump. Bitcoin rises, shares in cryptocurrency-linked companies climb.

Oil retreats from five-month high amid Israel troop removal from Gaza. Crude rallies due to escalating geopolitical tensions and supply shocks, raising Brent prices potential to reach triple figures. ECB likely to keep rates unchanged, but easing expected to commence in June.

Asian markets gain, except Chinese equities, after winding up petition for Shimao Group. People’s Bank of China stabilizes yuan after recent slide. Gold rises to record over $2,350 an ounce, driven by US inflation focus and geopolitical risks.

Key events include US inflation reading, European Central Bank rate decision, Japanese industrial production, and earnings reports from Citigroup, JPMorgan, and Wells Fargo. Stocks steady, currencies little changed, and cryptocurrencies and commodities volatile. Bond yields rise, with focus shifting to global economic outlook.



Read more at Yahoo Finance: Bonds Retreat as Traders Trim Rate-Cut Expecations: Markets Wrap