By Mike Dolan

LONDON (Reuters) – What matters in U.S. and global markets today

By Mike Dolan, Editor-at-Large, Finance and Markets

With a first Federal Reserve interest rate cut of 2025 now considered to be in the bag, world markets are hungry for signals on how much more comes after. This has allowed the dollar to stabilize at four-year lows against the euro ahead of today’s decision.

U.S. stocks also stalled on Tuesday and futures were flat ahead of today’s bell, with Fed rate cut bets now gravitating to exactly 25 basis points after news of roaring 5% annual retail sales growth in August helped put the kibosh on thoughts of a bigger move this week. Gold backed off too. That didn’t stop U.S. long bonds rallying further, however. Helped by brisk demand for 20-year debt at Tuesday’s au

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