New York Futures Market Advances on Lower Bets of Interest Rate Hike

Futures markets in New York are on the rise this Monday, September 17th, following a reduction in bets that the Federal Reserve (Fed) will increase interest rates in September. This shift is driven by a series of weaker economic data from the United States, including declines in retail sales and consumer confidence. These figures, coupled with recent inflation indicators, suggest that the Fed may not be as aggressive as initially expected with its monetary tightening measures. The probability of an increase next month stands at about 30%, down significantly from around 50% last week according to the CME Group's FedWatch tool. Investors are also awaiting minutes from the Fed’s latest meeting and key retail earnings, including Walmart’s upcoming results. Home Depot and Lowe’s will release their financials in the coming days while European markets continue to rise with mining and technology sectors leading gains. These developments reflect a global trend where the US economy faces challenges, influencing monetary decisions and investments worldwide.