European stocks are expected to fall at the open after Federal Reserve Chair Jerome Powell said a half-percentage point rate hike is 'on the table.'
Back in Europe, French voters are heading to the polls Sunday in an election that will decide their next president. The second — and final — round of the election puts incumbent Emmanuel Macron against anti-immigrant party leader Marine Le Pen.
In a note Thursday, Goldman Sachs described the election as a decisive moment for France’s policy path. "If Mr. Macron is re-elected, we would expect him to revive his reformist agenda as a continuation of his pro-integration plan for Europe," the analysts, led by Sven Jari Stehn, said. "These reforms are to a large extent embedded in our current forecasts. Should M. Le Pen be elected, we would expect an institutional impasse owing to the likely lack of a parliamentary majority in next June's legislative elections and significant friction with EU partners."released earnings Friday, flagging a hit to its revenue from its exit from Russia.
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