📆 Monday, April 28
► European markets climbed as investors positioned themselves ahead of a busy week of earnings and economic data. The Stoxx 600 rose by 0.5% as investors focused on corporate results from BP, Deutsche Bank, HSBC, Deutsche Boerse, and Shell expected later this week. Germany’s DAX (+ 0.55%), France’s CAC 40 (+ 0.65%) ,and London's FTSE 100 (+ 0.35%) are all up. The rebound went already far with the DAX for instance already back at level before Trump's liberation day (April 2). Optimism was supported by Mediobanca’s €6.3 billion bid for Assicurazioni Generali’s wealth management unit and resilience in Eurozone banks. Spanish unemployment ticked up to 11.36% in Q1, while Swedish producer prices and Norwegian unemployment showed signs of weakness. Overall sentiment remained cautious amid lingering concerns over US trade policies.
► US markets showed early weakness after four consecutive days of gains. S&P 500 futures slid about 0.2% following last week's rally, the longest since January. Investors were cautious ahead of key earnings from Microsoft, Amazon, Meta, and Apple. Confusion remained over US-China tariff negotiations after conflicting signals from President Trump and Treasury Secretary Scott Bessent (and also the Chinese side not confirming progress in talks). Market focus also stayed on upcoming GDP and jobs data. Treasuries are little changed, with 10-year yields trading flat at 4.26%, while the USD is slighly up (DXY +0.1%). US Treasury Secretary Scott Bessent said the administration is working on bilateral trade deals with 17 key partners, not including China.
► Asian markets traded mostly higher, but with a cautious tone. Japan’s Nikkei 225 rose 0.35%, boosted by tech shares and optimism over domestic growth. The JPY weakened toward 144/USD. China’s Shanghai Composite closed lower, down 0.2%, weighed by lingering US-China trade concerns, despite Beijing exempting some key US goods from retaliatory tariffs (such as semiconductors). Hong Kong’s Hang Seng traded flat as traders locked in profits. India’s Sensex gained over 1%, while Australia’s ASX 200 climbed 0.36%.
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