Global Markets Rise as Fed Rate Cut Looms

Global stock markets closed higher on Thursday, fueled by dovish remarks from Federal Reserve officials pointing towards a potential interest rate cut this month. U.S. private payrolls added fewer jobs than expected in August, while jobless claims rose, underscoring a cooling labor market.

Wall Street equities advanced with the Dow, S&P 500, and Nasdaq all seeing gains, as European markets also followed suit despite a decline in Chinese stocks. In contrast, Salesforce shares fell sharply due to disappointing quarterly revenue driven by ineffective AI monetization.

Financial markets are pricing in almost certain expectations for a Fed rate cut later this month. European bond yields slightly decreased as traders kept an eye on geopolitical risks and emerging economic data, setting the stage for a cautious yet optimistic week ahead.

(With inputs from agencies.)