Tue Sep 17 07:06:48 UTC 2024: ## European Stocks Rise on Fed Rate Cut Expectations, Oil Prices Climb

**Frankfurt/Paris/London, September 19, 2023** – European stock markets opened higher on Tuesday, buoyed by anticipation of a dovish Federal Reserve meeting kicking off later in the day. Investors expect the Fed to begin easing interest rates, with a significant chance of a larger-than-usual 50 basis point cut.

The DAX in Germany gained 0.4%, the CAC 40 in France rose 0.5%, and the FTSE 100 in the UK climbed 0.8%. CME Fedwatch data indicates a 68% probability of a 50 basis point cut and a 32% chance of a 25 basis point cut.

While the exact size of the rate cut remains uncertain, the prospect of easing monetary policy is driving market sentiment. Investors are also looking past weaker economic data, with the German ZEW economic sentiment survey expected to show deterioration and U.S. retail sales forecasted to have contracted in August.

**EssilorLuxottica** shares rose 0.5% after the eyewear giant announced an extended partnership with Meta Platforms for the development of smart eyewear. **Kingfisher** stock soared over 5% after the European home improvement retailer reported a flat first-half profit but raised its full-year profit outlook.

Meanwhile, crude oil prices gained momentum on Tuesday, propelled by continued disruption to U.S. oil production following Hurricane Francine. Brent crude futures climbed 0.5% to $73.12 per barrel, while U.S. crude futures (WTI) traded 0.7% higher at $68.48 per barrel.

The American Petroleum Institute will release its weekly inventory data later today, with traders anticipating another drop in U.S. crude stockpiles.

Read More