It’s a strange time for the stock market. It’s almost like one of Aesop’s fables or a fairy tale, except featuring Wall Street’s bulls and bears, in which something the bear has done has affected the trajectory of stock prices.The S&P 500 (Index: ) pulled back as the prospect of faster rate cuts dimmed during the final trading week of October 2024. The index fell some 1.3% to end the week at .The CME Group’s anticipates a 0.25% rate cut on 7 November 2024. After that, however, expectations for future rate cuts have changed. Instead of additional 0.25% cuts at 6-to-12-week intervals, the tool now projects quarter point rate cuts will take place at an average of 12-to-18-week intervals, a much slower pace.That change in outlook hammered stocks that had recently rallied on the expectation of interest rates falling at a faster pace, which in turn pulled the trajectory of the S&P 500 into the lower portion of the redzone forecast range on the alternative futures chart. Here’s the of that chart, which also shows we’ll reach the end of the redzone forecast range later this week.Meanwhile, other stuff happened during the trading week that was. Here are the week’s marking-moving headlines, which seasoned investors will recognize have little to nothing to do with the U.S. elections in this upcoming week.Monday, 28 October 2024
- Oil slips nearly $4 a barrel after Israel shows restraint in strikes on Iran
- Some companies change tack in China with no recovery in sight
- China launches new lending tool before year-end loan expiry
-
Japan’s political shakeup complicates BOJ, fiscal policy outlook
- BOJ on quest for better communication as more rate hikes loom
- Japan’s kingmaker opposition warns against early BOJ rate hike
- No urgency for ECB to speed up policy easing, Wunsch says
Tuesday, 29 October 2024
-
Oil prices climb as US reserve bid lends support
- US seeks up to 3 million barrels of oil for emergency reserve
- Fed’s rate cut revives small business optimism and plans to borrow
- Deteriorating office loans stress US regional banks’ CRE portfolios
- Federal Reserve to cut rates by 25 basis points at next two meetings: Reuters poll
- China’s factory activity likely contracted in Oct for a sixth month – Reuters poll
- Exclusive: China considers over $1.4 trillion in extra debt over next few years
- Japan continues to see moderate economic recovery, cuts factory output view
- More companies planning price hikes in Germany, survey finds
- Nasdaq hits record high as Alphabet earnings beat estimates
Wednesday, 30 October 2024
- US shippers avoid East Coast ports on risk of second strike
- Oil rises on US stockpiles drawdown, OPEC+ mulls output hike delay
- US 30-year mortgage rate surges to 6.73%, highest since July
- China’s looming fiscal package set to stabilise rather than boost growth
- China stimulus should go hand in hand with reforms, ex c.bank adviser says
-
Euro zone grows quicker than expected but outlook remains weak
- French economy expanded 0.4% in Q3 with Paris Olympics, INSEE says
-
ECB’s inflation victory not far off, Nagel says
- ECB’s Lagarde: inflation should stabilise at 2% target in 2025
- ECB does not need to stimulate economy, Schnabel says
Thursday, 31 October 2024
-
Oil gains more than $2 after settlement on reports Iran preparing Israel attack
- US oil output hits monthly record high in August, agency says
- Fed seen on track to cut rates next week and in December
- China’s manufacturing activity expands for the first time in six months
- China’s central bank injects cash via new outright reverse repos in October
-
Japan’s factory declines accelerate as demand sags, PMI shows
- Asia’s factory activity stagnates, taking shine off rebound in China
- Japan’s economic growth likely cooled sharply in Q3 in test for BOJ policy: Reuters poll
- BOJ keeps policy steady, leaves door open for near-term rate hike
- BOJ Governor Ueda’s comments at news conference
- Euro zone inflation picks up, bolstering case for caution in rate cuts
- ECB’s Panetta warns rate policy mustn’t push inflation too low
Friday, 1 November 2024
- US labor market staggers after blow from hurricanes, strikes
- Oil climbs 2% on reports of Iran preparing strike on Israel
- US manufacturing drops to 15-month low in October
- China pivot from US farm imports bolsters it against trade war risks
- BOJ should wait at least six months for rate hike, says opposition kingmaker
- Japan’s rising minimum wage likely to push up inflation, BOJ says
- Japan must avoid issuing debt to fund fresh spending, IMF says
-
Wall St closes higher as Amazon’s gains offset weak job growth
- Amazon’s improving retail sales boost Q3 profit, revenue beats estimates
The ‘s projection of the real GDP growth rate for the current quarter of 2024-Q3 plunged to +2.3% from the previous week’s forecast of +3.4% growth.More By This Author:Median Household Income In September 2024 New Home Sales Rise As Mortgage Rates Fall In September 2024, But Headwinds Build In October How Much Should You Save For Your Emergency Fund
