MSCI global stock index hits a new high, European stocks open higher collectively, U.S. stock futures rise before the market opens, and the U.S. dollar index falls to a two-week low

U.S. inflation data meets expectations, enhancing the Fed's rate cut expectations for September, leading to a rise in global stock markets.

On Wednesday, August 13, the MSCI Global Country Index rose 0.2%, reaching a record high. The MSCI Asia-Pacific Index rose over 1%, the Nikkei 225 Index hit a new high, European stocks opened higher collectively, and U.S. stock futures rose slightly over 0.1%. Among other assets, spot gold and U.S. Treasuries rose, while the dollar index and crude oil fell. Ethereum saw a 24-hour increase of over 7%.

Previously, U.S. Treasury Secretary Janet Yellen stated that what really needs to be considered now is whether we should cut rates by 50 basis points in September. Trump again criticized Powell for not cutting rates on social media once more. The Fed governor and popular candidate for chair nominated by Trump, James Bullard supports a rate cut, stating that tariffs do not lead to inflation.

Here are the movements of core assets:

U.S. stock futures rose over 0.1% across the board.

In pre-market trading, most popular Chinese concept stocks rose, with Alibaba up over 2.5%, Li Auto up over 3%, and PDD up over 2%.

European stocks opened higher collectively, with the Euro Stoxx 50 Index opening up 0.4%, the German DAX Index up 0.4%, the UK FTSE 100 Index up 0.2%, and the French CAC 40 Index up 0.3%.

The Nikkei 225 Index closed up 1.3%. The Topix Index closed up 0.8%. The South Korean Seoul Composite Index closed up 1.1%.

The dollar index fell over 0.2% to a two-week low. The euro rose over 0.2%, reaching a new high since July 28. The yen rose over 0.2%.

U.S. Treasury yields mostly declined, with the benchmark 10-year Treasury yield falling over 2 basis points.

Japanese 10-year government bond futures fell, following the lowest bid-to-cover ratio for a 5-year government bond auction since 2020.

The yield on German 30-year government bonds rose to its highest level since 2011.

Spot gold rose over 0.3%, and spot silver rose about 1.4%.

U.S. oil fell over 0.2%, approaching $63, while Brent oil fell over 0.1%, approaching $66.

Bitcoin rose 0.2%, above $119,300.

Ethereum saw a 24-hour increase of up to 7.1%, above $4,625.

Goldman Sachs analysts stated that this inflation data supports the view of a preventive rate cut in September, which will become an important driving force for the market. As inflation is brought under control and the revised employment data more clearly reflects a weak job market, the policy focus will shift more towards employment.

In pre-market trading, most popular Chinese concept stocks rose, with Alibaba up over 2.5%, Li Auto up over 3%, and PDD up over 2%.

U.S. stock futures rise slightly

U.S. stock futures are up more than 0.1%.

The U.S. dollar index is down more than 0.2%.

Spot gold is up more than 0.3%.

The 10-year U.S. Treasury yield has fallen by more than 2 basis points.