📆 Monday, June 03
► European stocks advanced with the Stoxx 600 index climbing 0.5%, buoyed by improving manufacturing data. Germany’s manufacturing PMI rose to 45.4, the highest in four months, while the Euro Area’s PMI increased to 47.3 from 45.7 in April. France also saw a rise in its manufacturing PMI to 46.4. Investors are awaiting the European Central Bank’s potential interest rate cut on Thursday.
► US futures rose as soft US inflation data and the resulting fall in yields, as well as rising rate cut expectations by the US Federal Reserve, led to optimism. Last Friday’s reading of core personal consumption expenditures (PCE) showed the smallest increase this year, raising hopes for policy easing. Yields on 10-year Treasuries edged lower. In particular growth/tech stocks are significantly higher extending gains on Friday after a chaotic session. GameStop soared on news of a $100M position taken by Keith Gill, a reddit user linked to the 2021 meme-stock rally.
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