📆 Monday, June 24
► European stocks opened positively with traders brace for a week of political events and inflation data that may influence global interest rate outlooks. The Stoxx 600 Index rose by 0.4%. Key political events include the upcoming US presidential debate and the French legislative elections later this week. Additionally, Germany’s Ifo business climate index fell to 88.6, missing expectations of 89.7. Despite these factors, the German DAX rose by 0.35%.
► US markets remain cautious ahead of the Core PCE data and other key economic data releases later this week. The S&P 500 fell on Thursday & Friday due to increased caution ahead of the massive $5.5 trillion options expiry event known as “triple witching.” Traders reassessed the sustainability of this year’s rally amidst high valuations and election uncertainties in Europe. US stock futures showed minimal changes today, with the S&P 500 up 0.2%, and Nasdaq up 0.15%. Investors are closely monitoring the Federal Reserve's preferred inflation measures (Core PCE data), which may signal potential rate cuts.
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