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On September 18, 2023, major U.S. stock indexes showed positive movement, with the S&P 500 Index up 0.11%, the Dow Jones up 0.08%, and the Nasdaq 100 hitting a new all-time high with a 0.23% increase. Notably, December E-mini Nasdaq futures increased by 0.22%. The market’s optimism is supported by predictions of additional interest rate cuts by the Federal Reserve.
The day includes significant financial events due to “triple-witching,” where $5 trillion in stock options, futures, and derivatives expire. As a backdrop, 92% of market participants are anticipating a 25 basis point rate cut at the next Federal Open Market Committee (FOMC) meeting on October 28-29. Key economic indicators include a 6.9% projected earnings growth for S&P 500 companies in Q3.
Internationally, the Euro Stoxx 50 rose by 0.23%, while China’s Shanghai Composite decreased by 0.30%. In the UK, August retail sales excluding auto fuel rose by 0.8%, and government borrowing hit £18 billion, marking the highest level for the month in five years.
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