Thu, Feb 15, 2024 7:48 PM
Govt invites applications for members of GST Appellate Tribunal
A Flip by Avya Verma
Futures tracking the benchmark S&P 500 were trading above the 6,000-point mark on Friday, with equity markets set for an upbeat end to an action-packed week that saw Donald Trump recapture the U.S. presidency and the Federal Reserve cut rates. Futures for all three major indexes were little changed in early trading after S&P 500 futures passed the milestone for the first time on Thursday.
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Bond traders looking for Jerome Powell to reignite a rally came away disappointed after the Federal Reserve cut interest rates as expected but gave little away about the path ahead. Treasuries inched higher, adding to gains clocked Thursday. The 10-year yield edged down two basis points to 4.31%, taking the drop this week to eight basis points.
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Chinese stocks and the yuan declined after authorities announced a 6 trillion yuan program to refinance local government debt, with futures on the FTSE China A50 Index plunging 5% and the yuan sinking 0.6% in offshore trading, signaling investors were unimpressed with the latest attempt to support the economy.
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