- Investor confidence that the Federal Reserve's peak interest rate would be within ranges already priced in by markets led to an increase in prices for US equity-index futures.
- Contracts for the S&P 500 and the Nasdaq 100 increased by at least 0.5% each as a result of the underlying indices avoiding a sell-off in response to the minutes of the Fed and officials' comments. Dollar and Treasury prices declined. Europe's stock benchmark reversed a two-day loss as increases in international technology shares were sparked by Nvidia's optimistic outlook. Japan was shut for the day.
- The Fed and markets are growing aligning in their expectations after months of divergence over the perceived direction of monetary tightening, lowering the potential for hawkish shocks. Even though the minutes and statements made by Fed officials, such as James Bullard, reaffirmed their desire for rate increases, nothing in those statements was new or unexpected given the market's aggressive repricing of fed bets in recent weeks.
