📆 Tuesday, May 7
► European equities continued their gains, supported by good results from banks such as UBS Group, which rose by more than 6%, and UniCredit following their positive financial reports. The Stoxx 600 Index rose 0.6%, signaling investor confidence boosted by the expectation of an imminent interest rate cut by the Federal Reserve. Despite the positive market sentiment, concerns remain as incoming orders in German industry unexpectedly fell in March and German chip company Infineon Technologies lowered its sales forecast due to continued weakness in the automotive sector. Oil giant BP also reported a fall in profits for the first quarter and announced a large share buyback, slightly missing sales expectations.
► US futures were largely unchanged as markets digested the impact of last week's US labor market data, which fueled speculation about possible interest rate cuts by the Federal Reserve. The focus remains on upcoming speeches from Federal Reserve officials, including Minneapolis Fed President Neel Kashkari, which could provide further clues on the stance of monetary policy. Meanwhile, yields on 10-year US government bonds fell slightly, reflecting investors' cautious but optimistic outlook. Markets are also awaiting Disney's earnings release later today.
Subscribe to see more
