SYDNEY/LONDON, July 29 - Global stocks edged up on Monday in a week packed with earnings and a trio of central bank meetings that could see the United States and UK open the door to interest rate cuts, while Japan might lift borrowing costs in a step toward"normality".
The U.S. Treasury will outline its bond sale plans for the quarter, while China's politburo meeting could produce more stimulus following surprise rate cuts last week. "The FOMC is set to hold steady but is likely to revise its statement to hint that a cut at the following meeting in September has become more likely," wrote analysts at Goldman Sachs in a note.
Investors are less sure whether the Bank of England will ease at its meeting on Thursday, with futures showing a 51% probability of a cut to 5%. Around 40% of the S&P 500 by market worth will report this week, including tech darlings Microsoft , opens new tab, Apple , opens new tab, Amazon.com , and Facebook-parent Meta Platforms , opens new tab. "With some sizeable moves implied by the options market for the individual names on the day of reporting, movement at a stock level could resonate across other plays within their sector and potentially promote volatility," said Chris Weston, head of research at broker Pepperstone.
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