China shares steady, SP futures bounce
Markets shift Fed rate cut timing from March to May
Fed futures still see sizable easing over 2024
Earnings loom from Apple, Amazon and Meta

LONDONSYDNEY, Feb 1 Reuters Dazed share markets were trying to steady on Thursday as Chinese stocks eked out rare gains and investors stuck to bets for sizable cuts in U.S. interest rates even if the kickoff date might now be a little later than first hoped.

Europe39;s bourses started in the red as traders hoped euro zone inflation data and a Bank of England interest rate decision due later would divert attention from what had been Wall Street39;s worst rout since September on Wednesday.

The Federal Reserve committee39;s decision to hold rates at 5.255.5 had been no surprise, but it emphasised that rates would not be cut until it had more confidence that inflation was truly beaten.

In a media conference, Fed Chair Jerome Powell flatly stated a cut as early as March seemed unlikely, but also conceded that everyone on the committee was looking to ease this year.

One of the more dovish aspects of Powell39;s remarks was the asymmetry on employment strong employment gains won39;t necessarily forestall rate cuts, but weak employment gains would 39;absolutely39; hasten rate cuts, wrote analysts at JPMorgan.

We are sticking with our call for a first cut in June, but after Powell39;s remarks it39;s not hard to see a configuration of employment and inflation data that gets the Committee cutting…