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4h ago

Markets Pull Back After Shutdown Ends as Missing U.S. Data Muddies Fed Path

Rate-cut odds for December have fallen to near 50% on doubts surrounding October's missing reports.

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Overview

  • Futures pricing from CME Group shows traders split about a December Federal Reserve cut, down from roughly two-thirds odds a day earlier.
  • Wall Street slid with technology leading losses as the Dow and S&P 500 fell 1.65% and the Nasdaq dropped 2.29%, while Europe’s Stoxx 600 closed down 0.59%.
  • The White House press secretary said the October consumer inflation and payrolls reports may never be released, leaving an information gap for policymakers and investors.
  • Brazil’s Ibovespa fell 0.30% to 157,162 points after a long rally, pressured by weaker September retail sales from IBGE and mixed earnings including Banco do Brasil.
  • Cryptocurrencies weakened as bitcoin fell about 2.4% to $102,497 and U.S.-listed spot bitcoin ETFs recorded $278.1 million in net outflows.