The DAX Futures is trading at 10,818.50 with a loss of -0.56% percent or -61.00 point.The FTSE 100 Futures is trading at 6,817.50 with a loss of -0.21% percent or -14.50 point. The CAC 40 Futures is trading at 4,781.50 with a loss of -0.60% percent or -29.00 point. The EURO Stoxx 50 Futures trading at 3,042.50 with a loss of -0.60% percent or -18.50 point.
TODAY’S FACTORS AND EVENTS
There are two main reasons for renewed market optimism. First, Fed Chair Jerome Powell sent a dovish message to the markets, in sharp contrast to the Fed rate statement in December, which was more hawkish than expected and was poorly received by the markets. Powell said that the policymakers would be cautious before making any rate decisions, a strong hint that the Fed will not continue its aggressive rate policy, with four rate hikes in 2018. Policymakers have been talking about one or two hikes in 2019, and some analysts are predicting a rate cut late in the year.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 23,879.12 up with +0.39% percent or +91.67 point. The S&P 500 is trading at 2,584.96 up with +0.41% percent or +10.55 point. The Nasdaq Composite is trading at +6,957.08 up with +0.87% percent or +60.08 point.
In other parts of world, Japan’s Nikkei 225 is trading at 20,163.80 with a loss of -1.29% percent or -263.26 point. Hong Kong’s Hang Seng is trading at 26,467.16 up with +0.018% percent or +4.84 point. China’s Shanghai Composite is trading at 2,535.10 with a loss of -0.36% percent or -9.25 point. India’s BSE Sensex is trading at 36,130.63 with a loss of -0.23% percent or -82.28 point at 12:15 PM.