📆 Thursday, June 27
► European stocks are little changed with the Stoxx 600 trading flat although seeing some early gains then losing them again – similar to yesterday's movement. Traders are in a holding pattern ahead of Sunday’s French elections. Fashion retailer Hennes & Mauritz plummeted over 14% after missing profit and sales estimates. GSK also declined following a regulatory setback for its RSV vaccine. Spain's retail sales fell by 0.6% in May 2024 compared to the previous month but increased by 0.2% year-on-year. Eurozone sentiment data will be released at 09:00 GMT+0.
► US equity futures fell as Micron’s disappointing sales outlook weighed on tech stocks, despite having a decent quarterly report. Investors are cautious ahead of key economic data releases, including jobless claims, durable goods orders, and pending home sales, as well as the PCE inflation report (Friday). Treasury yields held steady, and the USD hovered near an eight-month high, reflecting expectations for a “higher for longer” interest rate stance by the Federal Reserve.
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