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U.S. Futures Up, European Stocks Lower Amid Growing Expectations Of Fed Rate Cut

U.S. futures edged higher on Thursday following bets that the Federal Reserve would cut interest rates in the near term. In contrast, European stocks slipped following persisting policy tightening moves in the region.

Contracts on the S&P 500 were up 0.5% during the morning session, while those on the Nasdaq 100 advanced by 0.8%. Those on the Dow Jones Industrial Average edged 0.1% higher. These movements come after US jobless claims fell unexpectedly for a second consecutive week.

European stocks declined, with the Stoxx Europe 100 falling 0.5%. Banking stocks led the fall, with the likes of Citigroup Inc. reducing their outlook for the sector following the start of the banking crisis.

The dollar weakened marginally on Thursday, with the Bloomberg Dollar Spot Index slipping 0.3%. The euro rose 0.2% to $1.0883, while the pound strengthened 0.3% to $1.2310.

Gold futures rose 1.7% to $1,999.70 an ounce, while West Texas Intermediate crude oil slid by 0.4% to $70.62 per barrel.

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