From Investing.com: 2024-09-17 03:06:48

European stock markets traded with small gains in anticipation of a dovish approach from the Federal Reserve at its policy-setting meeting starting later in the session. German DAX rose 0.4%, French CAC climbed 0.5%, and UK FTSE surged 0.8%.

Expectations are high for the Fed to begin an easing cycle with a rate cut at its conclusion on Wednesday. Uncertainty lingers over the size of the cut, with bets favoring a 50 bps cut over the traditional 25 bps.

Traders are pricing in a 68% chance for a 50 bps rate cut and 32% chance for a 25 bps cut. Other central banks like the Bank of Japan and Bank of England also have policy meetings this week.

Focus is on the German ZEW survey showing economic challenges and US retail sales, expected to contract in August. Investors look past the numbers ahead of an anticipated US rate cut.

EssilorLuxottica extends its partnership with Meta Platforms for smart eyewear development, pushing stock up. Kingfisher reports flat first half profit, raises profit outlook despite weak demand.

Crude prices rise on US output disruptions from Hurricane Francine, ahead of US crude stockpile data. Brent futures gain 0.5% to $73.12, WTI trades 0.7% higher at $68.48 per barrel. Production and output remain offline in the Gulf of Mexico.



Read more at Investing.com: European stocks rise ahead of start of Fed meeting; German ZEW data due By Investing.com