US Futures Gain as Focus Turns From Debate to Data – Europe Market Wrap

European equities erased an early rise, dragged down by a drop in France’s share benchmark ahead of the weekend’s legislative election, which has upended markets throughout the region. According to a Bank of America Corp. report using EPFR Global statistics, investors withdrew the most money from European stock funds in over four months during the week ending Wednesday.

France’s CAC 40 index fell 0.5%. Traders are entering France’s election with the most futures contracts on French bonds in at least a year, and the most put options related to Europe’s primary blue-chip benchmark in two years. The major fear for investors is that the new French administration would push the country farther into debt.

US market futures climbed as investors shifted their focus from the presidential debate to incoming pricing data that might strengthen the case for lower interest rates.

S&P 500 and Nasdaq 100 contracts gained, implying that Wall Street’s boom will continue. Both indexes are on track for a third quarter of increases, with optimism that signals of slowing economic growth would give the Federal Reserve more space to loosen policy this year.