November 10, 2023
United States:
US Futures Gain as Traders Look Past Hawkish Talk: Markets Wrap
US equity futures edged higher as investors waited to see if more Federal Reserve speakers today echo the hawkish message from Chair Jerome Powell.
Futures for the S&P 500 rose about 0.3%. Treasuries also recovered from the previous day’s declines that were sparked by Powell’s speech pledging more policy tightening if necessary.
https://www.bloomberg.com/news/articles/2023-11-09/stock-market-today-dow-s-p-live-updates
Europe:
Lagarde Says Sustaining ECB Rate at 4% Should Help Tame Prices
European Central Bank President Christine Lagarde said that keeping the deposit rate at 4% should be enough to tame inflation, but officials will consider raising borrowing costs again if they need to.
Weeks after policymakers refrained from a further increase for the first time since their tightening cycle began last year, she signaled to an event organized by the Financial Times that the central bank is gaining confidence that current monetary settings should do the trick.
Asia:
Hong Kong Lowers 2023 GDP Expectations as Recovery Sputters
Hong Kong lowered its economic growth forecast for this year in a sign that tough times are still ahead for the financial hub amid a muted post-pandemic recovery.
Gross domestic product is expected to expand 3.2% in 2023, the Census and Statistics Department said Friday. That compares with a previous prediction that the economy would grow in a range of 4% to 5%, itself a narrowing of an earlier forecast.
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