Stocks Consolidate This Week’s Gains

Group of fund manager analyzing big data for future investment

Coming off two days of big developments, including the first US interest rate cut of 2025 and Nvidia’s investment in Intel, stocks have paused for investors to digest the news. US and Chinese leaders are meeting today to finalize their deal on TikTok.

US index futures are trading flat to up 0.2% coming off gains of 0.2% to 0.9% for the Big 3 indices, and a 2.5% gain for the Russell 2000. European bourses are steady trading between a 0.1% loss for the Dax, a flat FTSE and a 0.2% gain for the CAC.

The US 10-year treasury note yield has crept up slightly to trade above 4.10%. The US Dollar is climbing today, sending the Pound down 0.6% and the Euro down 0.4%. Despite a disappointing Canadian retail sales report (-1.2% vs Street 0.7%), the Loonie is down a more moderate 0.2%.

Gold is steady just below $3,700/oz. Copper is up 0.1%. Energy contracts are under pressure with Crude Oil down 0.7% and Natural Gas down 1.5%.

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