Markets Drift with No Clear Sentiment – Europe Market Wrap

European equities and US futures dipped as investors awaited corporate earnings to confirm their soft economic landing expectations.

Europe’s Stoxx 600 and S&P 500 futures were barely changed after tumultuous trading in China, which indicated some traders’ scepticism about Beijing’s most recent initiatives to boost growth. The euro fell as investors anticipated a rate decrease by the ECB on Thursday.

Corporate scorecards are the next litmus test for a stock rise that set a new S&P 500 record last week. Citi, Goldman Sachs, and Bank of America’s results are due on Tuesday, and the banks will provide an early assessment of the impact of interest rate reduction on their bottom lines. JPMorgan, Wells Fargo, and BNY Mellon all outperformed expectations Friday.