US Futures Edge Higher at Start of Big Data Week – Europe Market Wrap
US market futures rose somewhat as traders braced for a week of data that will shed insight on the health of the world’s largest economy and the Federal Reserve’s interest rate stance.
The S&P 500 and Nasdaq 100 contracts were up roughly 0.3%, while Europe’s Stoxx 600 index pared a 0.5% gain. In London, BT rose more than 7% after Bharti Global agreed to acquire a 24.5% share in the UK carrier.
Investors received some relief Monday from the volatility that has roiled markets in recent days, fuelled by concerns that the Fed is waiting too long to decrease interest rates. Last week, the S&P 500 experienced its largest one-day decline and strongest rebound since 2022.
The yen fell the most against the dollar among major peers, reversing some of last week’s gains as traders cut bearish bets following the Bank of Japan’s July 31 rate hike. The BoJ’s move forced investors to exit carry trades, causing turbulence to reverberate throughout global markets.
