U.S. equity-index futures rose as investors grew confident the Federal Reserve's peak interest rate would be within levels already priced in by markets.
Contracts on the S&P 500 and Nasdaq 100 climbed at least 0.4 per cent each after the underlying indexes avoided a selloff following the Fed's minutes and remarks by officials. The dollar and Treasuries traded lower. Europe's equity benchmark halted a two-day loss as Nvidia Corp.'s bullish outlook sparked gains in global technology shares. Japan was closed for a holiday.
“One of our big concerns coming into this year was the market was anticipating an event that wasn't likely to occur, that being a dovish Fed pivot,” Danielle Poli, co-portfolio manager of the diversified income fund for Oaktree Capital Management, said in an interview with Bloomberg Television. “The market has woken back up a little bit in these last two weeks.”
U.S. Jobless claims data due Thursday may help shine a light on the strength of the labor market, which has remained stubbornly robust through the rate-hiking cycle. Eurozone inflation data due today will also help investors outline the health of the European economy. In Europe, technology and automotive shares were the best performers on the Stoxx 600, while commodity and health-care names underperformed. Rolls-Royce Holdings Plc shares soared as much as 23 per cent after the company's full-year earnings.
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