International markets update:
Wall Street faced another day in the red, pressured by higher Treasury yields, while futures indicated a potential rebound for Thursday’s trading. Economic data, central bank actions, and political promises are poised to influence market direction.
- President Trump pledged a $5,000 “dividend” to every adult American if Republicans secure control of Congress in the midterms, a promise estimated to cost $1.3 trillion.
- Wall Street extended its losing streak with the Dow down 400 points, marking three days of declines, as higher Treasury yields maintained pressure on U.S. equities.
- European markets anticipate the ECB’s rate decision today, with President Christine Lagarde expected to announce at least a 25-basis point hike to combat inflation.
- UBS CEO Sergio Ermotti cautioned investors against complacency, highlighting the escalating geopolitical and economic risks that demand close attention.
- Apple introduced its first foldable phone, the iPhone Duo, alongside other new products at its “Surprise and Shine” event, with the Duo priced from $1,999.
- Samsung is actively drawing iOS users to its latest Galaxy Z Fold8 series, aiming to solidify its lead in the foldable market as Apple makes its entry.
- Investors await fresh wholesale inflation data and jobless numbers, which are key indicators that could influence market sentiment and potentially snap Wall Street’s recent decline.
Stock Market News summarised for the Wall Street Investors Club community.