U.S. equity futures rose as the market awaited PCE inflation data, Brent crude fell 1%, and spot gold climbed above $4,200.
Global equity and bond markets have temporarily stabilized, with market focus now on the upcoming US August Personal Consumption Expenditures (PCE) inflation data. On Wednesday, US equity futures rose, with Dow futures up 0.5%, S&P 500 futures up 0.3%, and Nasdaq 100 futures up 0.2%. The 10-year US Treasury yield edged down to 5.21%. Brent crude fell 1.0% on the day to $95.18 per barrel, while spot gold rose 0.44% on the day, climbing above $4200 per ounce. JPMorgan Chase's latest report suggests that the oil market has largely normalized, with Middle Eastern oil exports recovering to 89% of pre-war levels.
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