US equity futures climbed and oil prices retreated as President Donald Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, helping improve risk sentiment after the Federal Reserve’s hawkish hold. Contracts on the S&P 500 jumped as much as 0.9% while Nasdaq futures rallied 1.5%. The moves followed a 1.2% decline in the US benchmark on Wednesday after the Fed signaled rates may need to rise further to contain inflation. Brent crude fell more than 1.5%, dropping toward $78 a barrel. A gauge of Asian stocks rose for a fifth day while Japan’s Nikkei 225 climbed almost 2%. Trump told reporters he signed the document at the palace of Versailles near Paris. The MOU is now in effect, a US official said. However, it was unclear if Iran had immediately begun taking steps to fully reopen the strait. The yield on 10-year Treasuries fell four basis points to 4.45% after rising about five basis points following the Fed decision. The two-year Treasury yield, which is highly sensitive to policy expectations, retreated two basis points to 4.16% after jumping 13 basis points in the previous session. Still, yields on Australian and Japanese 10-year bonds edged higher on Thursday. Optimism that the US-Iran deal may ease geopolitical tensions and reduce the risk of further disruptions to global energy supplies has provided another tailwind for global equities. The asset class has largely shrugged off the turmoil sparked by the war and continued to notch record highs on the back of relentless enthusiasm for artificial intelligence. Bond investors, however, face the prospect of lingering inflationary risks that may keep the higher-for-longer rates narrative intact. Even though oil prices have eased, pressure on inventories remains acute. Stockpiles at Cushing, the largest US commercial storage hub, have sunk to about 20 million barrels, a level traders consider an operational minimum. Central banks in Indonesia and the Philippines — two economies hit hard by the energy shock — are both expected to raise their policy rates by a quarter-point each on Thursday, according to the majority of economists surveyed by Bloomberg. Taiwan’s central bank is forecast to leave rates unchanged. Most emerging Asian currencies, including the rupiah and the peso, weakened against the dollar on Thursday. In Japan, the yen fell to its weakest level against the US dollar since July 2024, raising the risk of official intervention. Investors remain concerned the central bank is not tightening policy quickly enough to contain inflation and stabilize the currency, even after it raised its benchmark rate to the highest level since 1995 earlier this week. The Fed decision marked the fourth consecutive meeting in which the central bank left rates unchanged. Officials described economic growth as “solid” and highlighted strong productivity gains and capital investment, while making clear that inflation has become a greater concern than labor-market weakness. Roughly half of Fed policymakers projected rate hikes this year, prompting traders to fully price in an increase by October and see a strong chance of a move as soon as September. Chairman Kevin Warsh, in his first press conference as head of the Fed, declined to offer guidance on the next policy move. He emphasized that inflation has remained above the Fed’s 2% target for several years and reiterated the central bank’s commitment to restoring price stability. Warsh also announced the creation of a task force to review the Fed’s $6.7 trillion balance sheet, an issue he has long criticized. The group would examine whether “monetary policy is coming from our interest rate tool or our balance sheet tool,” he said. Elsewhere in markets, the Bloomberg Dollar Spot Index slipped 0.2% on Thursday after climbing 0.7% in the last session. Gold and silver advanced. Asian tech shares followed Nasdaq futures higher, with an index of the sector climbing more than 1.5%. US After Hours SWBI +16.8% sharply higher on earnings; RUM +6.3% after closing Northern Data acquisition; STLD -3% lower on guidance.
Nikkei +1.97% Hang Seng -1.70% CSI +0.12% Kospi +0.12% Shanghai -0.37% Shenzen +0.24%
Eur$ 1.1522 CNH 6.7630 CNY 6.7618 JPY 160.62 GBP 1.3313 CHF 0.7988 RUB 72.8365 TRY 46.4428 WTI$ 75.11 -2.33% Gold 4,313 -1% BTC 63,858 -0.73% ETH 1,733 -0.64%
S&P +0.72% Nasdaq +1.12% EuroStoxx -0.64% FTSE -0.63% Dax -0.30% SMI
Macro :
- Trump Blows Through His Iran Red Lines in Justifying Peace Deal
- Warsh Rocks Bond Market in Debut, Sparks Surge in Hike Bets
- China’s $300 Billion Pile of Bad Consumer Debt Threatens Economy
- Europe Bets Industrial AI Can Salvage Its Manufacturing Edge
Keep an eye on :
Keep an eye on :
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