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CAC 40 Little Changed As Traders Pare Rate Cut Bets
(RTTNews) - French stocks were little changed on Friday as hopes for an early rate cut by the U.S. Federal Reserve faded.
Data showed on Thursday that the U.S. producer price inflation rose 0.6 percent in February from last month, outpacing the modest 0.3 percent gain forecasted by economists.
The hotter-than-expected inflation print sent Treasury yields higher and cast doubt on a June rate cut.
According to the CME FedWatch Tool, the probability of the Fed leaving the policy rate unchanged at June meeting climbed from 25 percent to 40 percent after the CPI data released earlier this week and Thursday's PPI data.
The benchmark CAC 40 was marginally higher at 8,168 after adding 0.3 percent the previous day.
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Sensex, Nifty End Choppy Session Little Changed
Indian shares fluctuated before ending little changed on Friday despite GST reforms optimism and firm cues from global markets amid growing expectations of a Federal Reserve interest-rate cut later this month.
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European Shares Inch Higher In Cautious Trade
European stocks were modestly higher on Friday as investors braced for the key U.S. jobs reading due later in the day and French Prime Minister Francois Bayrou's confidence vote on Monday.
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Asian Shares Modestly Higher Before Pivotal US Jobs Report
Asian stocks eked out modest gains on Friday as weak U.S. labor market data reinforced expectations of a Federal Reserve rate cut later this month and U.S. President Donald Trump signed an executive order officially putting into action the U.S.-Japan trade agreement.
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European Shares Set For Steady Open Before US Jobs Report
European stocks may open slightly higher on Friday as investors await the all-important monthly U.S. jobs report later in the day for direction.
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Sensex, Nifty Open Higher On Fed Rate Cut Hopes
Indian shares were modestly higher on Friday as weak U.S. labor market data fueled fresh hopes for a Federal Reserve rate cut this month.
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Australian Market Trims Early Gains In Mid-market
The benchmark S&P/ASX 200 Index is gaining 30.30 points or 0.34 percent to 8,856.80, after touching a high of 8,880.70 earlier. The broader All Ordinaries Index is up 35.00 points or 0.39 percent to 9,126.40. Australian stocks closed significantly higher on Thursday.
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Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, as some weaker than expected U.S. private sector job growth in the month of August bolstered bets the US Fed will lower interest rates later this month. The markets are pricing in a September rate cut and anticipating at least two reductions this year.
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Sensex, Nifty Seen Higher At Open On Firm Global Cues
Indian shares are likely to open higher on Friday, tracking firm cues from global markets and falling oil prices on oversupply concerns ahead of an OPEC+ meeting this weekend.
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