FOMC and Big Tech Earnings Drive U.S. Stock Futures Higher

Here is a look at global market conditions. First, let's examine the New York stock market for this week.

The U.S. FOMC meeting will take place over two days starting October 27, followed by the release of the September personal consumption expenditures (PCE) price index on October 29.

Third-quarter earnings reports will be released by Alphabet and Microsoft on October 28, and by Amazon on October 29.

While expectations for a rate freeze at the October FOMC meeting remain dominant at around 90%, the market is closely watching whether Federal Reserve Chair Kevin will signal the possibility of an additional rate hike in December.

The third-quarter GDP growth rate is also scheduled to be released on October 29, along with the earnings reports of SanDisk and Intel, which are drawing attention among corporate earnings.

Political uncertainty ahead of the U.S. midterm elections on November 3 and geopolitical tensions in the Middle East are also cited as variables for the stock market.

Next, let's take a look at the U.S. futures market.

Ahead of this week's FOMC meeting and major economic data releases, caution surrounding the future rate path persists in the futures market.

U.S. stock index futures are all showing upward trends. Dow futures and Nasdaq 100 futures are up by more than 100 points. Dow futures are trading in the 52,500 range, while Nasdaq 100 futures are moving in the 29,200 range.

In addition, S&P 500 futures are also edging up, trading in the 7,600 range.

Let's also look at Russell 2000 futures, centered on small and medium-sized stocks. They are currently edging up and moving in the 2,700 range.

This week, attention is also focused on the possibility of renewed volatility in Treasury yields ahead of the FOMC meeting and inflation data releases.

10-year U.S. Treasury futures are moving at 4.998%.

Turning to the commodity futures market, gold prices previously showed weakness—dropping below $4,000 per ounce—due to rising inflation concerns driven by higher international oil prices, despite stock market instability, and heightened possibilities of additional rate hikes by the Fed.

Gold futures are moving in the $4,010 per ounce range.

Over the weekend, Brent crude futures exceeded $116 per barrel amid concerns over supply disruptions in the Middle East.

Markets are closely monitoring how military tensions in the Middle East will actually impact crude oil supplies.

Crude oil futures are recording the $101 per barrel range.

This concludes our look at the CME futures market.
※ Please note: This article was translated by AI and may contain errors.