Stocks, bonds edge up ahead of 'formidable' week for risk
SPY•Global shares edged higher as oil fell about 1.8% to $114.6 ahead of central bank meetings and major corporate earnings. Markets priced an 80% chance of a December Fed rate hike, while S&P 500 and Nasdaq futures rose about 0.1%.
1. Markets edge higher
Global shares edged up on Monday as oil eased from six-month highs ahead of a week of central bank meetings and corporate earnings. Oil fell about 1.8% to $114.6 after reports of a Qatar-led effort in Tehran to de-escalate tensions in coordination with the United States.
2. Rates and data ahead
Markets expected the Federal Reserve to hold rates at its October meeting but priced an 80% chance of a December hike. US core inflation is forecast to remain elevated at 3.1% in September, while economic growth is forecast at a 3.2% annualised pace.
3. Earnings in focus
S&P 500 and Nasdaq futures rose about 0.1% ahead of earnings from Alphabet, Microsoft and Amazon, with one-third of S&P 500 companies due to report. Ten-year Treasury yields were flat at 5%, below their 5.36% peak earlier in the month.
