Asian markets rose ahead of the release of key economic data across the region

Australian retail sales rose for the first time since the third quarter of 2022, recording a seasonally adjusted jump of 0.2% quarter-on-quarter in the three months to September.

This exceeds the 0.2% decline expected by economists polled by Reuters, and reverses the 0.5% decline seen in the second quarter.

The country’s statistics office also revealed that on a seasonally adjusted annual basis, retail sales fell by 1.7%.

– Lim Hui Ji

A potential recession, high levels of inflation and uncertainty over energy markets are just some of the reasons investors are turning away from Europe at the moment – but Goldman Sachs remains positive on a number of stocks in the region.

The investment bank updated its “Condemnation – Managers Downgrade List” of stocks to buy in Europe in an October 31 note, describing it as a “curated list of our most diverse core buying ideas across our European coverage.”

The updated list includes the addition of one major stock.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

Should an investor move towards bonds or stocks in the near to medium term?

Both markets have been volatile recently, which can make it a difficult choice for traders.

Stocks rose after the US Federal Reserve decided to keep interest rates steady, but Fed Chairman Jerome Powell stressed that the central bank has not begun to consider cutting interest rates, and will not do so until inflation is under control.

CNBC Pro takes a look at what Wall Street pros are saying.

Subscribers can read more here.

-Weezin Tan

Markets found enough at this week’s Fed meeting to suggest there is little chance of any additional rate hikes.

The odds of a December increase dropped Thursday morning to 14.6%, according to CME Group’s FedWatch tool, which uses federal funds futures pricing to measure odds. A month ago, the chances of a move in December were 39%.

Futures prices, which can be volatile and swing quickly, are now indicating that the first rate cut could come in May.

—Jeff Cox

Treasury yields continued to fall early Thursday, helping push US stock index futures higher as debate rages over whether “risk on” runs will return.

Two-year Treasuries yielded 4.954% and 10-year Treasuries fell 4.691% after briefly topping 5% two weeks ago. The bids on Treasuries come as the chance of another quarter-point rate hike by the Federal Reserve at its December 13 policy meeting has collapsed — down to less than 1 in 7 (14.6%), according to the CME FedWatch tool that uses contracts. Interest rate futures. the prices.

S&P 500 futures were recently up 31 points at 4,237, up about 0.7%, while Nasdaq-100 futures were up 161, or 1.1%, at 14,906.

As inflation weakens, “yields are likely to fall further but stabilize at a much higher level than before the pandemic,” London-based Capital Economics wrote on Thursday.

-Scott Schnepper

The Cboe Volatility Index (VIX) — Wall Street’s favorite fear gauge — traded as low as 16.12 on Thursday, a level not seen in three weeks. This comes as stocks rose for the second day in a row on hopes that the Federal Reserve will finish raising interest rates for the year.