U.S. stock index futures faced declines as expectations for a Federal Reserve rate cut in November weakened. The yield on the 10-year U.S. Treasury hovered around the critical 4% level, while the U.S. dollar index rose by 0.2% to 102.67.
In pre-market trading, popular Chinese stocks saw widespread declines. JD.com (JD, Financial) shares fell over 5%, and NIO (NIO) saw a drop of more than 3%. On the other hand, Nvidia (NVDA) rose slightly by 0.23% amid news from a summit about the energy efficiency of its Blackwell chips. Taiwan Semiconductor Manufacturing Company (TSMC) shares increased by 0.35% following a substantial 39.6% year-on-year rise in September sales.
Google (GOOGL) stocks fell 1.14% ahead of U.S. market hours, as the Department of Justice considers breaking up Google’s search engine as a remedy in an ongoing antitrust case. This move highlights increasing regulatory pressure on major tech companies.
Traders are keenly watching the upcoming U.S. Consumer Price Index inflation data for clues on the Federal Reserve's next steps. Boston Fed President Susan Collins previously advised that any decision on rate cuts should be data-driven and approached with caution.
Commodities showed mixed trends as spot gold declined to $2612.56 per ounce, while oil prices saw an uptick. Brent crude rose 0.7%, priced at $77.74 per barrel, and U.S. crude was at $73.48 per barrel.
European markets exhibited diverse movements; the Euro Stoxx 50 index increased by 0.01%, the FTSE 100 rose by 0.46%, and Germany's DAX30 index fell marginally by 0.02%.
