Global stock markets paused on Thursday after a four-day advance that erased most of November’s earlier losses. With US cash equity markets closed for the Thanksgiving holiday, investors focused on futures trading and interest rate expectations.
futures stay close to unchanged in late morning New York trading, while Dow Jones and Nasdaq 100 futures also move sideways. The MSCI All Country World Index shows little movement after trimming most of its November loss.
Money markets now assign about an 80% probability to a quarter-point Federal Reserve rate cut next month and imply more reductions through 2026. The shift from last week’s expectations supports equity prices as traders anticipate lower funding costs.
Digital assets added to the improving risk tone. above $91,000, while ether hovers near $3,000, signaling a stronger risk appetite.
Furthermore, West Texas Intermediate crude holds near $59 a barrel and spot gold edges lower.