Stock market indices, including the Dow, Nasdaq-100, and S&P futures, reached new all-time highs. The Bank of Canada cut interest rates by 25 basis points, and US pending home sales were flat month-over-month. Yields ticked higher on the front end of the US Treasury curve. Gold rebounded above $4,000, Silver futures and Copper futures were up, and WTI Crude Oil futures gained about 0.5%. The dollar strengthened against most majors, except the Japanese Yen futures. Markets expect a 25 basis point Fed rate cut due to softening labor data and inflation. Key points for the press conference include any hint of December cuts, concern over jobs versus stubborn inflation, and confirmation on the end of quantitative tightening. Major earnings reports from Microsoft, Alphabet, and Meta are expected after the market close, alongside reports from other large-cap companies. Economic data tomorrow includes German and EU GDP, an ECB rate decision, and US third quarter GDP.
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