An event-packed but shortened week stateside kicks off the second half of 2024, with European markets rallying on Monday as the first round of French...
An event-packed but shortened week stateside kicks off the second half of 2024, with European markets rallying on Monday as the first round of French assembly elections points to a hung parliament and policy gridlock.
The benchmark CAC40 French stock index jumped more than 2% on Monday - clawing back losses seen since the snap election announcement almost a month ago and returning to positive territory for the year to date. The European Central Bank has already reduced rates this year and looks set to act at least one more time before the Fed makes its first move.
Otherwise, the U.S. week is broken up by the Independence Day holiday on Thursday but is packed with big labor market data - some of which is frontloaded a day early because of the holiday. The JOLTs job openings release is due on Tuesday, for example, and the weekly jobless report on Wednesday - but the national payrolls report will be on Friday as usual.
Mike Dolan European Markets European Central Bank French Assembly Parliamentary Seats Federal Reserve Opinion Polls
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