Global markets: Stocks, bonds cautious ahead of 'formidable' week for risk
SPY•Global shares edged higher as oil fell about 2% to $114.6, while investors awaited central bank meetings and earnings from major technology companies. Markets priced an 80% chance of a December Fed rate hike, and S&P 500 and Nasdaq futures rose 0.3%.
1. Markets look to busy week
Global shares edged higher on Monday as oil eased from six-month highs ahead of central bank meetings and corporate earnings. MSCI's All-World index was slightly higher after falling nearly 1% last week, and the STOXX 600 rose 0.4%.
2. Rates, earnings in focus
Oil fell around 2% to $114.6 after reports of a Qatar-led effort to de-escalate tensions with Tehran. Markets expected the Fed to hold rates at its October meeting but priced an 80% chance of a December hike; US core inflation was forecast at 3.1% in September and economic growth at a 3.2% annualised pace. S&P 500 and Nasdaq futures gained 0.3% ahead of earnings from Alphabet, Microsoft and Amazon, among other companies.
