By Dow Jones Newswires Staff
U.S. futures and global markets were mixed after the Federal Reserve cut interest rates as expected, but Chair Jerome Powell dampened hopes for further cuts this year. President Trump agreed to cut tariffs on Chinese goods after meeting with Chinese leader Xi Jinping, with Trump describing the meeting as amazing.
--U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average fell 0.2%. The indexes were set for fresh records Wednesday before Powell's speech, but ended the day down ending a four-day winning streak.
--Asian shares closed mostly mixed, with South Korea's Kospi closing 0.1% higher, led by heavyweight Samsung Electronics after better-than-expected 3Q earnings. Japan's Nikkei closed nearly flat with an upward bias. However, mainland stocks closed lower on possible profit-taking, despite a positive meeting between the leaders of the U.S. and China. The benchmark Shanghai Composite Index and Shenzhen Composite Index closed 0.7% and 1.3% lower, respectively. ChiNext Price Index closed down 1.8%. In Hong Kong, the Hang Seng Index was down 0.1%.
--European indexes fell in opening trading, except Germany's DAX, which was up 0.3% ahead of GDP data later Thursday and earnings reports from Airbus and Adidas sending their shares up 3.3% and 2.2%, respectively. London's FTSE 100 index, France's CAC 40 and the Stoxx 600 indexes were down 0.45%, 0.04% and 0.1%, respectively.
--The dollar eased slightly after reaching a two-week high Wednesday following cautious signals from the Federal Reserve about cutting interest rates. The DXY dollar index falls 0.1% to 99.153 but stays near Wednesday's high of 99.356.
--U.S. Treasury yields rose as European markets open, continuing the increase prompted by the Federal Reserve's hawkish message, despite its 25-basis-point rate cut. Fed Chair Powell cooled market expectations of a December cut, leading to a repricing of market bets and a rise in Treasury yields. The 10-year yield was up two basis points at 4.077%, and the 30-year yield was up 3.1 bps at 4.628%, according to Tradeweb.
--Eurozone government bond yields rose, tracking U.S. Treasury yields. The focus for eurozone bond investors now shifts to the European Central Bank's rate decision, with rates to stay on hold. Ten-year eurozone government bond yields rose, with the 10-year German Bund yield up three basis points at 2.650%, according to Tradeweb.
--Gold prices fell in early trade after Powell dimmed hopes for further interest-rate cuts in December. Futures in New York were down 0.5% to $3,981.70 a troy ounce, while spot gold fell 0.6% to $3,930.62.
--Oil prices fell in early trade despite Trump saying he would lower tariffs on China after meeting with Chinese leader Xi Jinping, with Brent crude and WTI down 0.6% to $63.94 and $60.12 a barrel. Prices settled higher in the previous session, lifted by a larger-than-anticipated draw in U.S. crude stockpiles, but concerns over a global glut continue to weigh on the market.
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
October 30, 2025 05:13 ET (09:13 GMT)
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