Investing.com - Here are the top five things you need to know this morning, Thursday, October 15:
1. Global markets rebound on delayed Fed rate hike bets
Appetite for riskier assets improved amid growing expectations that the Federal Reserve will delay hiking interest rates until next year.
Stock markets in Asia and Europe pushed higher, while U.S. stock futures pointed to strong gains at the open.
2. U.S. inflation report due before the open on Wall Street
The Commerce Department is expected to report at 8:30AM ET that consumer prices fell by 0.2% in September, after declining 0.1% in August. Core inflation is forecast to gain 0.1%, after rising 0.1% a month earlier.
Also at 8:30AM, the U.S. is to release weekly data on initial jobless claims, as well as a report on manufacturing activity in the New York region.
At 10:00AM, the Philadelphia Fed manufacturing index for October is due, as traders look for further indications on the strength of the economy and the timing of an interest rate hike.
3. Citigroup and Goldman Sachs report quarterly earnings
Citigroup Inc (N:C) and Goldman Sachs Group Inc (N:GS) are expected to post quarterly results before the opening bell. Also reporting premarket are UnitedHealth Group (N:UNH), cigarette maker Philip Morris International (N:PM) and grocery store chain SuperValu Inc (N:SVU).
After Thursday's closing bell, Barbie maker Mattel (O:MAT) and oil-field services company Schlumberger (N:SLB) are slated to report.
4. U.S. dollar struggles near 2-1/2 month lows
The dollar was almost unchanged at two-and-a-half month lows against the other major currencies on Thursday, as the previous session's downbeat U.S. economic data continued to weigh on demand for the greenback.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.04, the lowest level since August 26.
5. Gold extends rally to hit 4-month highs
Gold futures rose for the fifth straight session on Thursday to hit a four-month high, after disappointing U.S. economic data fueled bets that the Federal Reserve will hold off on raising interest rates until 2016.
A delay in raising interest rates would be seen as bullish for gold, as it decreases the relative cost of holding on to the metal, which doesn't offer investors any similar guaranteed payout.