Investor sentiment was subdued on Thursday, with markets treading cautiously ahead of next week’s Federal Reserve meeting. U.S. weekly jobless claims unexpectedly fell to a three-year low, slightly tempering expectations for a rate cut and pushing Treasury yields higher. Equities were broadly unchanged, while the dollar firmed against most major peers.
In Europe, sovereign yields tracked the move in the U.S., further supported by reports that a group of younger CDU lawmakers plans to vote against the government’s pension reform. The political noise had little spillover into equities, where major indices advanced, led by outperformance in Spain’s Ibex-35.
Oil prices edged higher, with Brent trading just above $63/barrel, as negotiations over a potential Ukraine peace deal showed no new signs of progress. The market’s attention today turns to U.S. PCE inflation and September spending data, which should offer additional guidance ahead of the Fed’s policy decision next week.
BANCO BPI, S.A., com sede na Avenida da Boavista, 1117, 4100-129 Porto; Capital Social: € 1 293 063 324,98; matriculada na CRC Porto sob o número de matrícula PTIRNMJ 501 214 534, como o número de identificação fiscal 501 214 534. Intermediário financeiro registado na CMVM com o n° 300 e no Banco de Portugal sob o código n° 10. Agente de Seguros n.º 419527591, registado junto da Autoridade de Supervisão de Seguros e Fundos de Pensões em 21/01/2019, e autorizado a exercer atividade nos Ramos de Seguro Vida e Não Vida.