📆 Wednesday, June 5
► European stocks advance after a negative session as signs of a cooling US labor market increased bets on Federal Reserve rate cuts. The Stoxx 600 index saw significant gains (+0.4%), led by retailers such as Inditex, which rallied over 5% following a strong trading update. Economic data indicated a positive outlook, with the Eurozone's composite PMI rising to 52.2 from 51.7, despite a slight decrease in the services PMI to 53.2 from 53.3, marking the strongest increase in economic activity since May 2023. Meanwhile, investors are eyeing the European Central Bank’s anticipated rate cut from a record-high 4% on Thursday, which could further fuel the rally in European stocks.
► US markets are focused on new labor market data, with job openings hitting their lowest since 2021, reinforcing speculation about potential rate cuts by the Federal Reserve. Investors await key economic data later today, including private payroll figures and the latest reading on the services sector. S&P 500 futures are slightly up (+0.15%) after gains yesterday, and Treasury yields edged up slightly to 4.35% after a significant drop on Tuesday. Market sentiment remains cautiously optimistic as traders balance between hopes for rate cuts and concerns about economic slowdown.
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