"World shares and U.S. futures were mixed on Monday after Wall Street was buoyed by revived hopes for an interest rate cut by the Federal Reserve.The future for the S&P 500 was up 0.2% while that for the Dow Jones Industrial Average was nearly unchanged.Germany's DAX gained 0.5% to 23,201.85, while the CAC 40 edged less than 0.1% lower to 7,978.77. Britain's FTSE 100 inched up 0.1% to 9,547.77.Markets in Japan were closed for a holiday."
"Hong Kong's benchmark, the Hang Seng, rose 2% to 25,716.50. It got a boost from a 4.7% gain for e-commerce giant Alibaba, which has reported strong demand for its updated Qwen AI app. Alibaba is due to report earnings on Tuesday.The Shanghai Composite index rose less than 0.1% to 3,836.77.Australia's S&P/ASX 200 gained 1.3% to 8,525.10.In South Korea, the Kospi reversed early gains, falling 0.2% to 3,846.06 on heavy selling of automakers."
"After last week's ups and downs over AI and Nvidia, traders will focus more on "the backbone of U.S. growth, the consumer, whose spending still drives two-thirds of GDP," Stephen Innes of SPI Asset Management said in a commentary.Data on the U.S. economy was scarce during the 6-week U.S. government shutdown, leaving investors struggling to parse trends in the economy."
Global equity markets showed mixed performance with U.S. futures modestly higher as investors priced revived hopes for a Federal Reserve rate cut. European indices were mixed, with Germany's DAX up 0.5% and France's CAC 40 slightly lower while Britain's FTSE 100 inched up. Asian markets were mixed: Hong Kong's Hang Seng climbed 2% boosted by Alibaba's 4.7% gain on strong demand for its Qwen AI app, while South Korea's Kospi fell 0.2% amid heavy selling of automakers. U.S. markets will observe a shortened holiday week and traders will focus on consumer spending signals during a period of sparse economic data and heightened volatility that left the S&P 500 close to its record.
Read at Fast Company
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