The PULSE: Today's global economic and market updates for October 15, 2024

1. European Markets: Germany’s DAX fell by 0.11%, reflecting investor caution amid expectations of further European Central Bank (ECB) rate cuts. France's CAC 40  declined by 1.05%, and the UK's FTSE 100 dropped by 0.52%. These movements reflect growing concerns over economic conditions and central bank policies. Spain’s IBEX 35 stood out, gaining 1.12% and showing resilience in the Spanish market.
2. US Economic Landscape: Federal Reserve officials have voiced caution regarding any swift rate cuts in the US, as inflation data remains higher than expected. This uncertainty is influencing market movements as investors await further economic indicators. The Fed’s September rate cuts reflected confidence in the labor market's resilience, but additional adjustments might be slower than anticipated.
3. Emerging Markets: A report from S&P has warned about the increasing risks of sovereign defaults in emerging markets, particularly for nations exiting restructuring programs with downgraded credit ratings. This is part of a broader trend of instability as these countries struggle to access capital on favorable terms.
4. Global Manufacturing Decline: Global manufacturing continues to weaken, with the Purchasing Managers’ Index (PMI) for 32 countries signaling a further decline in activity. The global PMI dropped from 49.6 in August to 48.8 in September, indicating contracting output and new orders, which suggests a slowdown in the sector.
5. Inflation and Central Banks: Inflation in the Eurozone continues to ease, dropping below the ECB's 2% target. As a result, the ECB is expected to cut interest rates further. However, service inflation remains high, complicating the ECB's efforts to ease financial conditions without causing further economic instability.

 Here are the source URLs for today's global economic and market updates for October 15, 2024:

1. Markets Insider - Global Market Indices: Markets Insider​

markets.businessinsider.com

2. Deloitte Insights - Global Weekly Economic Update: Deloitte Insights​

Deloitte United States

3. Financial Times - Global Market and Economic News: Financial Times​

Financial Times