📆 Tuesday, July 30
► European stocks edged higher as investors brace for a week filled with significant economic data, US megacap earnings, and central bank decisions. The Stoxx 600 index rose by 0.2%, buoyed by BP gains after the company maintained its share buyback pace and increased its dividend following a profit beat. France's GDP grew by 0.3% in Q2, supported by domestic demand and stable exports, while Germany's GDP contracted by 0.1% over the same period, reflecting mixed economic signals in the region.
► US futures were little changed (S&P 500 at 0.0%) as markets await earnings from major technology firms like Microsoft, Apple, and Amazon, with Microsoft reporting after the market close today. Also AMD will be in focus as the US' third largest semiconductor company. The USD and 10-year Treasury yields remained steady as traders anticipated the Federal Reserve's policy decision on Wednesday. The Fed is expected to leave interest rates unchanged, but will signal a rate hike in September given concerns about the weakening labor market. Meanwhile, the US national debt exceeded $35 trillion for the first time, highlighting fiscal challenges ahead.
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