📆 Friday, June 14
► European stocks (Stoxx 600) trade 0.4% lower, following a heavy selloff on Thursday. Euro Stoxx 600 futures are on track for its worst week since October. This comes after French President Emmanuel Macron announced a snap election following his party's poor performance in the European Parliament elections. In France, the inflation rate surged to 2.3% in May from 2.2% in April, in line with consensus expectations. The uncertainty has caused the premium France pays on its debt relative to Germany to soar, marking the biggest move since the European debt crisis in 2011. The EUR extended losses that it suffered on Thursday.
► US stock futures saw modest gains after the S&P 500 achieved a fourth consecutive record, driven by a surge in tech shares, particularly Broadcom. Adobe is up more than 14% in pre-market trading after the design software maker reported earnings and revenue that topped estimates and lifted full-year guidance. The USD strengthened against major currencies, while Treasury yields remained steady. The US producer price index unexpectedly declined the most in seven months, indicating moderating inflationary pressures. This data increases the likelihood of the Federal Reserve considering interest rate cuts later this year.
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