Stocks Rise Worldwide as Traders Prepare for Busy Week – Europe Market Wrap
Stocks gained at the start of a week filled with events that will shape sentiment as markets approach all-time highs. Gold extended its historic rally.
S&P 500 futures rose 0.2%, recouping the majority of their losses on concerns that the Fed was falling behind in supporting a slowing labour market. Longer-dated Treasuries fell, and the Dollar is on track for a second consecutive loss.
Europe’s Stoxx 600 rose 0.3%. Energy stocks advanced as oil prices rose, but traders braced for a confidence vote that is expected to bring French PM Bayrou’s government down. The region’s bonds remained essentially stable.
Uncertainty in Japan and France adds to a slew of US data released this week that will help determine the Fed’s policy direction. With a September interest rate decrease now priced in, next consumer and producer price data will reveal how much room the Fed has to boost the labour market.
Oil prices rose after OPEC+ agreed on Sunday to increase production at a modest rate next month. Crude futures fell last week on expectations of an impending output surge. Gold rose above $3,600 per ounce.
