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S&P 500 futures fell 1.6% and Nasdaq 100 futures fell more than 2%. According to the new price data, it is clear that the Fed will again raise the key interest rate by 75 basis points next week. The data is “but not as catastrophic as the first market reaction suggests,” Altmann says. US inflation eased to 8.3 percent in August on the back of declining gasoline prices, but fell short of expectations of 8.1 percent.
Global market
Meanwhile, positive momentum for the DAX comes from the economic front. Industrial production in Germany rose unexpectedly in September despite high energy prices and material shortages. Economists had expected average growth to be just 0.2 percent after production was cut by a revised 1.2 percent in August. Global markets are awaiting the release of the Fed minutes, which will be evaluated for details on the path of the upcoming rate hikes.
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Negative forecast for US futures on DAX
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Shareholders, not firms, to bear share buyback tax burden. Here’s what Sebi’s proposal means for you
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DAX started a new trading week with slight losses. In early trading on XETRA, German benchmarks fell 0.5 percent to 13,399. Investors are gearing up for important events this week, including the US midterms and US consumer prices. It¡¦s truly a great and helpful piece of info.
Vaults in Europe are currently 84 percent full; this corresponds to the usual level at this time of the year. On the other hand, at the political level, people are still looking for ways to limit high energy costs. After market speculation about easing China’s tough corona policy failed to materialize, oil prices came under pressure.
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