S&P 500, 30-year Bond Extend Gains Post-FOMC, Pre-NFP

Also, 10-year T-note, gold, natural gas and British pound futures

1. S&P 500 E-mini futures (/ES): +0.33% 

2. 10-year T-note futures (/ZN): +0.52% 

3. Gold futures (/GC): +1% 

4. Natural gas futures (/NG): +3.24% 

5. British pound futures (/6B): -0.5% 

U.S. equity markets are extending their gains after the turn through the middle of the week—and the Federal Reserve’s July interest rate decision—helped spark a sharp turnaround in both the S&P 500 and Nasdaq 100. Bonds are rallying across the curve as well, as Fed Chair Powell offered a clear signal that a September rate cut is increasingly likely. Elsewhere, rising tensions between Israel and Iran may be contributing to a revived “war trade,” whereby bonds, oil and precious metals outperform the rest of the market. Across the pond, the Bank of England cut rates by 25 basis points (bps) in a 5-4 vote without offering clear…