Two hours ago, European markets opened higher, with most sectors starting the day positively. The pan-European Stoxx 600 was up 0.35% at 8:14 a.m. London time, with banks leading gains. The U.K.’s FTSE 100 was up 0.56%, France’s CAC 40 rose 0.35%, and Germany’s DAX increased by 0.39%.
In other news, DoubleLine Capital CEO Jeffrey Gundlach predicts that the Federal Reserve’s dot plot will show only two rate cuts for 2024, down from the previous projection of three cuts. The dot plot reflects the rate expectations of 19 FOMC members through 2026 and beyond.
Additionally, stocks like Oracle and Rentokil saw significant movement after hours. Oracle’s shares surged nearly 9% due to cloud deals, while Rentokil’s stocks jumped about 7.5% following news of Nelson Peltz’s Trian Partners taking a significant position in the company.
Lastly, stock futures opened little changed on Tuesday night, with S&P 500 and Nasdaq 100 futures trading slightly lower. Dow futures were just below the flatline. Stay tuned for further updates.
Vocabulary List:
- sector (noun): A distinct part or branch of the economy or society.
- projection (noun): An estimate or forecast based on present data or trends.
- surged (verb): Increased suddenly and strongly.
- significant (adjective): Important or noticeable.
- position (noun): A place where someone or something is located.
- flatline (noun): A horizontal line or plane.
