📆 Friday, June 28
► The broad European Stoxx Europe 600 pared an early gain as France’s CAC 40 index dropped 0.5% ahead of the parliamentary election, causing market unease across the region. Economic data showed Germany's unemployment rate increased to 6% in June, and Spain's annual consumer inflation eased to 3.4% in June. France's inflation rate also dropped to 2.1% in June.
► US equity futures are higher, with contracts on the S&P 500 and Nasdaq 100 indicating potential gains. Economists expect the Federal Reserve’s preferred inflation gauge, the core PCE Price Index, slowed to an annualized rate of 2.6% last month from 2.8%. That would be the lowest reading since March 2021, though it remains above the Fed’s goal for 2% inflation. The Bloomberg Dollar Spot Index remained near an eight-month high, influenced by outcomes from the US presidential debate. Treasury yields retreated slightly as market expectations for interest rate cuts grew amid mixed economic signals including reduced personal spending and weaker business equipment orders. Consumer and business activity shows signs of cooling which may give the Fed enough reasons to justify cutting rates later this year.
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