A look at the day ahead in European and global markets from Wayne Cole.
It's been a subdued start to a busy week studded with tech earnings and major data from both sides of the Atlantic.this week. Just five tech stocks have accounted for two-thirds of the S&P 500's gains this year, so a lot is riding on the outcome.
"We also believe a major narrative of tech earnings season will be the AI arms race and each Big Tech player updating investors on their own AI ambitions/monetization strategy as Redmond battles Google and other tech stalwarts for the AI trophy case," they write. The employment cost index and core personal consumption expenditure measure of inflation will help refine expectations for next week's Federal Reserve meeting. Futures price a quarter-point hike at 89%, suggesting the market would move more on a soft outcome in either figure.
Another risk bubbling away in the background is the U.S. debt ceiling with the House set to vote on theEven if passed, it is highly unlikely to get past the Democratic-controlled Senate, and analysts are starting to get antsy the government will run out of money earlier than expected because of weak tax payments.Spreads on U.S. five-year credit default swaps widened to 51 basis points , more than double the level they stood at the start of the year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning Bid: Japan opens new chapter, maybe eraInvestors will focus on the Bank of Japan's first policy meeting under new governor Kazuo Ueda.
Read more »
Brazil’s Lula kicks off visit to European ally PortugalPortugal's president welcomed President Luiz Inacio Lula da Silva of Brazil on an official visit Saturday, as the Brazilian leader looks to strengthen ties with his country's natural partner in the European Union.
Read more »
NIO Planning Small Budget EVs For European ExpansionNIO will launch a new affordable sub-brand, codenamed Firefly, with the aim of gaining a larger market share in Europe.
Read more »
Talking points from European soccerTalking points from the weekend in European soccer leagues:
Read more »
Favorite European travel destination bans selfies as tourists spark 'anarchic chaos' in streetsThe Italian town of Portofino has banned selfies in some of its photogenic locales to prevent tourists from clogging the streets amid what the mayor describes as 'anarchic chaos.'
Read more »
European firms warn renewables need policy, funding support to stay on trackEurope's offshore renewable energy industry is not big enough to deliver governments' goals to rapidly expand green power, and requires a jump in policy support and funding to get on track, European companies from the sector said on Monday.
Read more »