U.S. stock index futures rose collectively, gold approached the $3,700 mark, and the dollar continued to decline
Asian stock markets hit record highs, European stocks opened mixed, and futures for the three major U.S. stock indices rose collectively. Gold approached the $3,700 mark, continuing its record upward trend, while the U.S. dollar fell to its lowest level against all major currencies since July. Investors are focused on the retail data set to be released tonight and are preparing for the widely anticipated first interest rate cut by the Federal Reserve this year
As global market risk appetite continues to warm up, U.S. stocks have risen to historic highs, with investors focusing on the retail data set to be released tonight and preparing for the widely anticipated first interest rate cut by the Federal Reserve this year.
On Tuesday, Asian stock markets reached record highs, European stocks opened mixed, and U.S. stock index futures rose collectively. Gold approached the $3,700 mark, continuing its record rally, while the dollar fell to its lowest level against all major currencies since July.
Retail sales data for August is expected to grow by 0.2%, which will provide key reference for the Federal Reserve's decision-making. The market widely expects a 25 basis point rate cut on Wednesday, with some investors not ruling out the possibility of a 50 basis point cut. As signs of a slowing job market emerge, policymakers may release more dovish signals.
Specifically, U.S. stock futures edged higher after the S&P 500 index broke through the 6,600-point mark on Monday.
The MSCI Asia stock index reached an all-time high and is on track to record its best consecutive gains in nearly five years.
The European benchmark index fell by 0.3%, with the insurance and telecommunications sectors leading the decline.
U.S. Treasury prices rose, with the 10-year yield falling by 1 basis point to 4.03%. Investors continue to bet on the Federal Reserve's imminent rate-cutting cycle, boosting demand for fixed-income assets.
Spot gold rose by $7 in the short term, currently reported at $3,694 per ounce, approaching the $3,700 mark.
The dollar fell to its lowest level against all major currencies since July.
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