CME glitch; U.S. dollar on pace for weekly fall; Tokyo CPI - what’s moving markets
Investing.com - European stocks oscillated around the flatline on Friday, with a fifth straight month on gains in regional shares hanging in the balance.
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By 04:20 ET (09:20 GMT), the pan-European Stoxx 600 index had inched down by 0.1% to 574.34. Elsewhere, the DAX in Germany and CAC 40 in France dropped by 0.1%, while the FTSE 100 in the United Kingdom rose 0.2% on Friday.
Should the Stoxx 600 notch an increase in November, it would secure the average’s longest monthly winning streak since March 2024.
Over the past one-week period, the index has risen by more than 2%, buoyed by expectations that the U.S. Federal Reserve will roll out another interest rate reduction in December.
Although some Fed policymakers have called for borrowing costs to remain unchanged at their current range of 3.75% to 4% due to a recent lack of fresh economic data, other officials have argued for a cut to help bolster an ailing American labor market. The Fed previously slashed rates in October and September.
According to CME FedWatch, there is now a roughly 85% chance of a quarter-point drawdown in rates at the Fed’s December 9-10 gathering.
This has helped to ease emerging fears around a possible bubble forming in the artificial intelligence boom. These concerns, driven in large part by frothy tech stock valuations and a string of circular dealmaking in the AI sector, have threatened to weigh on sentiment throughout the month.
Volumes are expected to be muted on Friday, reflecting investor caution during a trading week interrupted by the U.S. Thanksgiving holiday. On Friday, stocks on Wall Street will be opened for a truncated session.
In individual stocks, Delivery Hero shares rose on a media report suggesting that management is facing pressure from investor to consider either a sale of the group or a divestiture of portions of the business.