February 29, 2024
United States:
US Futures and Bonds Slip With Focus on Inflation: Markets Wrap
US stock futures edged lower and bonds fell as investors braced for a print of the Federal Reserve’s key inflation metric, which will help identify the path forward for interest rates.
Contracts for the S&P 500 and the tech-heavy Nasdaq 100 both retreated by about 0.3%. Snowflake Inc. plunged in premarket after the cloud software company said its chief executive officer is stepping down and gave a disappointing sales forecast. WW International Inc. sank after Oprah Winfrey said she was going to leave its board.
https://www.bloomberg.com/news/articles/2024-02-28/stock-market-today-dow-s-p-live-updates
Europe:
German Inflation Slows Further, Backing ECB’s Rate-Cut Plan
German inflation slowed in February, feeding expectations that the European Central Bank will start lowering interest rates around mid-year.
Consumer prices rose 2.7% from a year ago — down from 3.1% in January, the statistics office said. That’s right in line with economist expectations.
Asia:
China Bans High-Frequency Trader as Quant Crackdown Expands
China banned a top-performing quant fund from the stock-index futures market and vowed tighter oversight of high-speed trading, expanding a crackdown on computer-driven investment strategies that some have blamed for exacerbating market turmoil.
The China Financial Futures Exchange recently banned Shanghai Weiwan Fund Management from opening stock index futures positions for 12 months, while confiscating 8.9 million yuan ($1.2 million) in illegal gains, the bourse said in a statement late Wednesday.
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