Stock markets reaching new records as storm passes, inflation data due, Fed easing expectations lower.

From Investing.com: 2024-10-10 06:06:32

U.S. and global markets are soaring to new records with the U.S. economy in good shape despite Hurricane Milton and Middle East tensions. Federal Reserve easing expectations are down, pushing the dollar higher. Market inflation expectations and oil prices are stable, but 10-year yields have climbed to July levels.

September’s inflation update is due and Fed officials are debating the pace of rate cuts, with CPI inflation expected to drop to its lowest in over three years. Energy markets remain wary of potential Israeli retaliation against Iran. Third-quarter earnings season is starting strong with banks reporting this week.

Stock futures are holding steady as markets wait for the CPI report, while overseas markets are buoyant especially in China and Japan. Europe’s stock markets fell as taxes and spending cuts are expected in France’s 2025 budget. European automakers are struggling amid weak sales in China. Warren Buffett’s Berkshire Hathaway raised funds with a yen-denominated bond offer.

GSK saw a 6% surge in London after agreeing to settle U.S. lawsuits over Zantac. Key events on the U.S. market include September consumer price inflation data, weekly jobless claims, and speeches from Federal Reserve officials. Delta Airlines and Domino’s Pizza are releasing earnings reports, and $22 billion in 30-year bonds will be auctioned.



Read more at Investing.com: New stock records as storm passes and CPI due By Reuters