📆 Monday, June 17
► European stocks edge higher with the Stoxx 600 up 0.2%, showing early signs of stabilizing after last week's sharp losses as investors evaluate political risks in France and anticipate upcoming central bank policy decisions. The EUR made small moves against the USD. Political uncertainty in France, including potential far-right victories, has increased market volatility, prompting strategists like those at Citigroup to downgrade European equities from overweight to neutral. A manifesto from France’s left-wing coalition aims to reverse President Macron’s economic reforms, adding to the market’s cautious sentiment.
► Wall Street ended mostly lower on Friday, although the S&P 500 finished a record-breaking week with solid gains, buoyed by favorable producer and consumer price index reports. U.S. futures are little changed in pre-market trading as investors await signals from the Federal Reserve and other central banks regarding future interest rates. The yield on 10-year Treasuries rose by two basis points, while the USD remained steady. Investors are focused on upcoming rate meetings in the UK and Australia, as well as speeches from Fed officials.
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