European markets opened higher on Wednesday, with most sectors starting the day in the green. The pan-European Stoxx 600 was up 0.35% at 8:14 a.m. London time. Banks led gains and were last up by 0.84%, while autos stocks dropped 0.78%. The U.K.’s FTSE 100 was last up 0.56%, while France’s CAC 40 rose 0.35% and Germany’s DAX was 0.39% higher.
In other news, DoubleLine Capital CEO Jeffrey Gundlach believes the Federal Reserve’s dot plot will show a projection of only two rate cuts for this year, down from the previous forecast of three interest rate cuts indicated for 2024. The dot plot indicates how 19 FOMC members expect where rates would be through the end of the year and beyond.
Additionally, in after-hours trading, Oracle’s shares jumped nearly 9% after announcing cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results. Rubrik and Rentokil Initial also saw positive movements in after-hours trading.
Stock futures were slightly lower on Tuesday night, with S&P 500 and Nasdaq 100 futures trading lower by 0.05% and 0.09%, respectively. Dow futures slipped just below the flatline.
Overall, the market seems to be reacting positively to the various developments, with investors keeping a close eye on the latest news and updates. Stay tuned for more updates on the market trends and movements.
