- Stocks and bonds fell as investors predicted that other central bank speakers today would echo Federal Reserve Chair Jerome Powell's aggressive message.
- The Stoxx 600 fell 1% as a result of disappointing earnings announcements. Diageo plummeted 16% after the UK distiller cut its profit forecast, and Richemont slumped 6.8% as revenue from luxury watches fell unexpectedly. Energy stocks gained alongside oil, with WTI returning to above $76 per barrel.
- Bonds were generally weaker. The 2-Yr Treasury yield remained above 5%, while the 10-Yr German bund yield increased by nine basis points.
- Investors are now waiting for European Central Bank President Christine Lagarde to speak at a fireside talk later on Thursday. Dallas Fed President Logan, Atlanta Fed's Bostic, and San Francisco Fed President Mary Daly are also expected to comment. Markets were jolted yesterday after Powell stated that policymakers will not hesitate to tighten if necessary.
- Nasdaq 100 index futures fell 0.2%, indicating that the tech benchmark may extend its 0.8% decline from yesterday. Gold fell 0.3% on the commodities market. The metal is destined for a second weekly decrease after fears that the Israel-Hamas conflict will escalate into a regional confrontation abated.
