Wall Street futures indicated a modest upward trend before the market opened on Friday. Traders are actively considering the likely magnitude of the Federal Reserve's upcoming interest rate cut, anticipated to be announced at the conclusion of the central bank's policy meeting next week. In the latest futures figures, the S&P 500 experienced a rise of 0.2%, while the Nasdaq increased by 0.1%, and the Dow Jones also saw an uptick of 0.2%.
Yields on the benchmark 10-year US Treasuries remain below 3.65%, creating a favorable climate for investors as gold prices continue to reach new heights during the morning trading session. Asian stock exchanges experienced a mixed bag overnight, but European markets are showing signs of moderate gains as they track positively during midday trading on the continent.
RH, known for its home furnishings, registered a remarkable increase of more than 20% prior to market opening after the retailer disclosed impressive second-quarter results and raised its guidance. Investors should keep an eye on the economic calendar today, which features the import and export price report for August set to be released at 8:30 am ET.
Following this, the University of Michigan's consumer sentiment report for September will be unveiled at 10 am. Furthermore, the weekly Baker Hughes report detailing the domestic oil and gas rig count is scheduled for 1 pm. In pre-market trading, Bitcoin was valued at $58,142, and West Texas Intermediate crude oil showed a positive trend, trading at $69.75.
The yield on the 10-year US Treasuries slightly decreased to 3.64%. Spot gold is now priced at $2,566 per ounce, reaching all-time high levels and testing those remarkable records. Markets are closely monitoring these developments as they unfold..