📆 Monday, October 28
► European stocks opened mixed as investors weighed potential geopolitical risks and reviewed upcoming data-heavy events. The European Stoxx 600 index rose slightly by 0.2%, recouping some losses from last week. London's FTSE 100 is flat weighed by losses in energy, while Germany’s DAX gained 0.3%. French shares are trading higher (+0.6%) with luxury stocks performing well. Dutch medical device company Philips, which lowered its sales forecast due to weak Chinese demand fell sharply (near -18%).
► US futures rose on Monday morning, suggesting a positive start for Wall Street after last week’s slight decline. S&P 500 and Nasdaq 100 contracts indicated potential cautious gains driven by optimistic tech earnings expectations from several “Magnificent Seven” companies this week. Investors also await key economic data, such as the US GDP report and Friday’s payrolls report (NFP). The USD remained steady as traders await guidance from tech earnings and upcoming payroll reports, with analysts expecting slow quarterly growth from tech leaders like Microsoft, Alphabet, and Amazon. The 10-year Treasury yield rose four basis points to 4.28%, reflecting reduced haven demand amid signs of easing Middle Eastern tensions. Political uncertainty remains in the US with US presidential election drawing near.
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