• MacroVisor
  • Posts
  • Breakfast Bites - Global Rate Decisions

Breakfast Bites - Global Rate Decisions

Nvidia still surging in the pre-market; Bank of England holds

Rise and shine everyone.

US Equity Futures continue to move higher this morning, after Tuesday’s bullish close. Nvidia overtook Microsoft to claim the spot for the largest company in the world, by market cap. And that momentum continues in the pre-market this morning. Other Mega Cap Tech companies are only marginally higher - it’s almost like people are selling to buy Nvidia. Almost.

Today’s focus will be yet another round of Fed speakers, jobless claims, housing starts, and building permits.

Europe looks slightly more stable as well this morning. French bond auctions actually saw relatively healthy demand. The Bank of England and Norges bank held, while Swiss National Bank did a somewhat surprise cut.

Asia closed mixed, with New Zealand outperforming after the country exited a technical recession. China’s not looking great after the market didn’t receive the rate cut that they were hoping for. Japanese inflation numbers come out early tomorrow morning (late evening US).

Commodities are seeing a bounce, except for NatGas and Ags (mainly softs). Silver is leading the way higher. The US Dollar Index is flat while US Treasuries are marginally higher.

Still, lots of green this morning!!

Subscribe to MacroVisor Premium to read the rest.

Become a paying subscriber of MacroVisor Premium to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In

A subscription gets you:
Ideas - Exclusive cross-asset strategies for swing trades and investments
Thematic Research - Identifying investible trends that present opportunities
Weekly Dashboard - Outlook on the Markets and Asset Classes - US, Developing Markets, Emerging Markets, Commodities, FX
Breakfast Bites - Analysis of developments around the world and their potential impacts on the economy and markets twice a week

Join the conversation

or to participate.