The DAX Futures is trading at 12,757.00 up with +0.43% percent or +54.00 point . The FTSE 100 Futures is trading at 7,491.50 with a loss of -0.20% percent or -15.00 point. The CAC 40 Futures is trading at 5,481.00 with a loss of -0.16% percent or -9.00 point . The EURO Stoxx 50 Futures is trading at 3,482.00 up with +0.29% percent or +10.00 point.
TODAY’S FACTORS AND EVENTS
Eurozone annual inflation is expected to dip to 1.2%, down from 1.3% in March, according to Eurostat. As well, Core annual inflation is forecast to edge lower to 0.9%, after three straight readings of 1.0%. These readings point to sluggish inflation, well short of the ECB target of around 2 percent. The weak inflation numbers are not surprising, as eurozone growth has softened in the first quarter. This is also reflected in manufacturing data, as German and eurozone manufacturing PMIs dropped for a fourth consecutive month.
The Federal Reserve maintained the benchmark rate at a target of 1.5% to 1.75% on Wednesday. The markets were looking for some discussion about inflation and were not disappointed. The rate statement was significant, with policymakers noting that “overall inflation has moved closer to 2 percent”. This was more hawkish than the March statement, in which the rate statement said that inflation indicators “have continued to run below 2 percent”.
For the day the Dow is trading at 23,930.15 up with +0.022% percent or +5.17 point. The S&P 500 is trading at 2,629.73 with a loss of -0.23% percent or -5.94 point. The Nasdaq Composite is trading at 7,088.15 with a loss of -0.18% percent or -12.75 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,472.78 with a loss of -0.16% percent or -35.25 point. Hong Kong’s Hang Seng is trading at 29,984.42 with a loss of -1.09% percent or -328.95 point. China’s Shanghai Composite is trading at 3,091.03 with a loss of -0.32% percent or -9.83 point. India’s BSE Sensex is trading at 34,935.93 with a loss of -0.48% percent or -167.21 point at 12:15 PM.