HONG KONG — Asian stocks mostly fell Monday, with the Euro dropping on the shock French election outcome, while U.S. stocks rose to more records Friday boosted by ain the 2024 French legislative election, beating back a far-right surge but failing to win a majority. The result leaves France facing the stunning prospect of a hung parliament and worries of political and policy uncertainty.In Tokyo, the Nikkei 225 index was up 0.2% to 40,999.80 despite official data showing the real wages fell 1.
On Friday, the S&P 500 climbed 0.5% to 5,567.19, setting an all-time high for a third straight day following Thursday’s pause in trading for the Fourth of July holiday. The index has already set 34 records and climbed close to 17% this year, which is only a little more than halfway done. The question is whether the economy can remain in this Goldilocks state of not too hot and not too cold, while the Federal Reserve times its next moves precisely. The hope is that the Fed will lower interest rates early and significantly enough to keep the economic slowdown from sliding into a recession, but not so much that it allows inflation to regain strength and take off again.
In other dealings Monday, U.S. benchmark crude oil gave up 20 cents to $82.96 per barrel in electronic trading on the New York Mercantile Exchange.France's far right 'sad and disappointed' over election result How a New York short-seller took on one of the world's richest people, wiped out $150 billion in market value, and barely made any money
North Korean troops could be sent to Ukraine due to their sheer numbers, not their effectiveness, experts say
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