U.S. Treasury yields rose as investors digested Friday’s labour market data and looked toward consumer price data and a Fed policy announcement this week
MSCI’S global equities index rose on Monday while investors awaited key U.S. inflation data and central bank policy meetings but the euro dropped after French President Emmanuel Macron called a snap election.
U.S. Treasury yields rose as investors digested Friday’s labour market data and looked toward consumer price data and a Fed policy announcement this week. Investors are also waiting on BoJ policy news.
Adding further uncertainty to a busy week was fresh political uncertainty in the euro zone’s second-biggest economy after far-right gains in European Parliament elections on Sunday prompted Macron to call a national election.
The euro dropped to a one-month low against the dollar, while European stocks slid.
There is a little bit of uncertainty coming from a couple of areas. Look at the elections over the weekend in Europe. The uncertainty there is creating a fair amount of volatility, according to Chad Oviatt, director of investment management at Huntington National Bank.
Europe’s STOXX 600 index earlier closed down 0.27% while France’s blue-chip CAC 40 index dropped 1.4% to hit a more than three-month low.
However, MSCI’s gauge of stocks across the globe turned from red to green as the day progressed and Wall Street regained some lost ground. The global index was last up 0.75 points, or 0.09%, at 794.99.
On Wall Street, the S&P 500 and the Nasdaq composite managed to mark their second record closing highs in four days.
The Dow Jones Industrial Average (DJIA) gained 69.05 points, or 0.18%, to 38,868.04, the S&P 500 edged up 13.80 points, or 0.26%, to 5,360.79 and the Nasdaq Composite rose 59.40 points, or 0.35%, to 17,192.53.