European & US Stock Futures Mixed Stock futures in Europe and the US are trading mixed as investors closely monitor economic data from China, Europe, and the US. In Europe, Germany’s Final CPI matched forecasts at -0.1%, signaling potential room for further rate cuts by the ECB. Meanwhile, UK data presented a mixed picture, with Average Earnings coming in below expectations at 4.0%, suggesting wage growth may slow and disposable income may remain constrained.
US Focus on CPI & Fed In the US, traders have digested recent Non-Farm Payroll (NFP) data, shifting focus to upcoming speeches from FOMC members. The Federal Reserve is expected to raise rates by 25 basis points on September 18, with the key US Consumer Price Index (CPI) data expected tomorrow. CPI remains the primary driver of the Fed’s monetary policy, and any decline from the expected 2.9% to 2.6% could be seen as a positive for markets.
Gold Gold continues to trade higher on a weekly basis, although current price action appears weak. Traders are awaiting FOMC member comments to guide the next move, with the expectation of a modest 25 basis point rate hike already priced in.
Apple Product Line Announcement Apple’s recent product launch has received a lukewarm response from traders, with little innovation compelling iPhone 12 owners to upgrade to the new iPhone 16. This has led to market speculation that Apple may need to rethink its product strategy.