Futures Creep Higher as US PCE Keeps Mood Cautious – Europe Market Wrap

After two days of losses, US equities were poised to rise as investors looked to US data to determine whether there was still potential for the recent advance to continue.

S&P 500 futures increased somewhat following Wall Street’s drop on Monday, while European stock markets remained stable. The dollar declined vs the majority of its G10 counterparts, while Treasuries remained unchanged.

This week, there has been an increase in concern over a discrepancy between share prices and profit estimates. Prior to the government’s carefully watched personal consumption expenditures price index on Friday—when many markets will be closed for the Easter holiday—US durable goods and consumer confidence data are scheduled for release today. Powell, the Fed, is scheduled to speak that day.

BoE’s Mann: The markets are perhaps a bit too complacent about how long the BoE will hold rates.