Global Markets Volatile: Wall Street Rising

Volatile Movement in Global Markets

The U.S. Senate's approval of a temporary funding measure increased expectations that the government would reopen after a prolonged shutdown. This situation laid the groundwork for a rise in Wall Street stocks. The announced employment data supported expectations that the Fed might cut interest rates in December.

Expectations for Economic Data to Reopen

Hope that economic data will begin to be released with the government's reopening created a positive atmosphere in the markets. The S&P 500 finished the day up 0.21 percent after a drop of 0.4 percent during the day. The Dow Jones index gained 1.2 percent. However, the technology-heavy Nasdaq 100 diverged negatively with a drop of 0.31 percent.

Developments in FedEx and Softbank

FedEx Corp, which monitors the economy, announced that it expects its profits to increase compared to the previous year in this quarter, resulting in a 5 percent rise in its stock. On the other hand, the sale of Nvidia shares by Softbank led to a decrease in the stock prices of both companies.

Data and Increases in U.S. Markets

The weak ADP data released in the U.S. increased expectations that the Fed would cut interest rates in December, while U.S. treasury yields also recorded a decline yesterday. In the new trading day, U.S. and European futures indices showed slight increases. Advanced Micro Devices Inc. gained 4.8 percent in post-market trading after forecasting acceleration in sales growth. In Asia, the MSCI stock index closed up 0.3 percent.