Overnight Summary — World markets settle in post Fed
The global equity markets are mixed. S&P Futures are down by about 10 points to trade around the 4340 area. The advance the market saw after the FOMC release stalled out overnight and settled into a trading range. Spoos peaked out at 4363.50 and are currently sitting closer to the low of 4334.50.
In Asia, the major markets closed higher. Beijing’s continued chatter promising support for financial markets kept sentiment in high spirits. The Shanghai posted a gain of 1.4% while Hong Kong surged 7.0%. In Japan, the Nikkei seemed to follow Wall Street’s move. Fast Retailing was among the standouts on Thursday with the retailer finishing nearly 7% better.
In Europe, the major bourses are off to muted starts. Economic data was light but new car registration data across the region seems to have disappointed investors. Automakers are among the worst groups with names like BMW, Renault and Stellantis shedding 1-3%.