“Markets now pricing in 15bp for the 17 October meeting. With only three weeks to go the ECB may not have enough data points to tip the balance. September HICP (due 1 October) is likely to see headline inflation drop below 2% but services inflation still close to 4%.”
US Consumer Confidence Falls
On Tuesday, the CB Consumer Confidence Index fell from 105.6 in August to 98.7 in September. Notably, the Present Situation Index and Expectations Index also declined, raising concerns about the labor market and the economic outlook.
A weaker consumer sentiment trend could impact spending and the US economy, possibly supporting a more dovish Fed rate path. Expectations of multiple 2024 Fed rate cuts and a soft US economic landing could drive demand for DAX-listed stocks.
US Market Trends
On Tuesday, September 24, the US equity markets advanced their gains from Monday, with the Nasdaq Composite Index gaining 0.56%. The Dow and S&P 500…
