World markets rallied as relief over the Fed's action and stance on expected lines bolstered investor sentiment. Markets also appear to have started pricing in a slowdown by the Fed in its hiking path. GDP data from the U.S is expected later in the day and the American economy is expected to have grown by 0.50 percent.
Asian stocks mostly gained. The Wall Street Futures are trading lower after a rally on Wednesday following the announcement of Fed's interest rate decision. European stocks are trading mostly lower amidst data showing the Economic Sentiment Indicator in the Euro Area declining for the fifth consecutive month.
The Dollar Index weakened. Bond yields mostly hardened. Crude oil prices gained amidst a drop in inventories and a Fed commentary that was less hawkish than expected. Gold gained on hopes that the Fed would soon slow down its hiking path. Cryptocurrencies rallied brilliantly.
Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies. Stock Indexes:
DJIA (US30) at 32,133.50, down 0.20% S&P 500 (US500) at 4,004.10, down 0.48% Germany's DAX at 13,097.79, down 0.52% U.K.'s FTSE 100 at 7,330.02, down 0.25% France's CAC 40 at 6,236.57, down 0.34% Euro Stoxx 50 at 3,594.65, down 0.36% Japan's Nikkei 225 at 27,815.48, up 0.36% Australia's S&P ASX 200 at 6,889.70, up 0.97% China's Shanghai Composite at 3,282.58, up 0.21% Hong Kong's Hang Seng at 20,622.68, down 0.23%
Currencies:
EURUSD at 1.0203, up 0.01%GBPUSD at 1.2170, up 0.16%USDJPY at 135.32, down 0.90%AUDUSD at 0.6999, up 0.13%USDCAD at 1.2803, down 0.14%Dollar Index at 106.28, down 0.17%
Ten-Year Govt Bond Yields:
U.S. at 2.789%, up 2.07% Germany at 0.9755%, up 3.89%France at 1.558%, up 1.80%U.K. at 1.9985%, up 1.96%Japan at 0.202%, down 1.23%
Commodities:
Crude Oil WTI Futures (Sep) at $99.36, up 2.16%Brent Oil Futures (Oct) at $103.86, up 2.15%Gold Futures (Aug) at $1,744.20, up 1.46%
Cryptocurrencies:
Bitcoin at $22,934.10, up 7.54%Ethereum at $1,622.78, up 11.22%BNB at $267.33, up 6.12% XRP at $0.3544 up 5.22%Cardano at $0.5013, up 7.09%
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.