Global stocks rose to record highs ahead of expected U.S. labour data and the second round of French elections voting this weekend.TSX futures were also in the green.Labour market data is also in focus on Wall Street, where markets will be parsing June non-farm payrolls data. A softer set of employment numbers could bolster the case for a U.S. rate cut in September, said Guy Miller, chief market strategist at Zurich Insurance Group.
“That, in combination with weaker U.S. data, is positive for the inflation outlook and that means rate cuts are back on the cards again.”the U.K. election The pan-European STOXX 600 was up 0.35 per cent in morning trading. Britain’s FTSE 100 increased 0.29 per cent, Germany’s DAX rose 0.83 per cent and France’s CAC 40 gained 0.36 per cent.Commodities
Brent crude futures were up 0.13 per cent at US$87.54 a barrel. West Texas Intermediate crude futures rose 0.2 per cent to US$84.12 per barrel a day. U.S. markets were closed Thursday, with no settlement for WTI.“Those who have kept faith that the driving season would eventually come are glowing in prescience and the many calls of a much better path for bulls in the third quarter seem to hold true at present,” said PVM oil analyst John Evans.
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