European markets are set to open higher, with the FTSE 100 up 39 points and the DAX rising 53 points, as investors await earnings from Imperial Brands and Thyssenkrupp, along with euro zone inflation data. In the U.S., confidence in rate cuts by the Federal Reserve appears to be waning, with a 62.1% likelihood of a December cut, down from previous weeks. Meanwhile, Wall Street banks have differing predictions for gold prices in 2025, with Goldman Sachs forecasting $3,000 per ounce.
Asia-Pacific markets opened higher, buoyed by Wall Street gains and a Tesla rally, as investors await key speeches from Chinese financial officials at a summit in Hong Kong. The Reserve Bank of Australia is set to release minutes from its recent monetary policy meeting, where interest rates were held steady at 4.35%. Meanwhile, U.S. markets showed mixed results, with the Nasdaq rising 0.6% and the Dow Jones slipping 0.1%, amid concerns over the Federal Reserve"s rate cut trajectory.
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