Premarket: Global shares stable as political turmoil saps market mood

Shares steadied on Monday while the euro remained on the defensive amid political turmoil in Europe, as investors look for direction from a string of central bank meetings in the region this week as well as fresh U.S. economic data.

The euro has become emblematic of this angst, down 0.04 per cent to US$1.07025, after falling to its lowest since May 1 at US$1.06678 on Friday. Markets have boosted the probability of a cut to 75 per cent as political uncertainty in France drove the euro to a four-month trough at 0.9505 francs on Friday.

U.S. shares looked set to follow the muted mood, with S&P 500 futures steady, while Nasdaq futures added 0.1 per cent following a run of record finishes.for the S&P 500 to 5,600, from 5,200 and the current 5,431. At least 10 policymakers from the Federal Reserve are due to speak this week and will no doubt address the market’s wagers for two rate cuts this year.

Japan’s Nikkei slipped 1.9 per cent on Monday, with investors now facing a six-week wait to hear details of the Bank of Japan’s next tightening steps.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: Stocks rally as investors eye interest rate movesBond yields drop as ECB set to cut Thursday and possibly the Bank of Canada on Wednesday
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Stocks catch a ride higher with Nvidia; investors cautious over ratesWall Street futures pointed higher after closing down yesterday
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Stocks fall in Europe as markets price in French political riskElsewhere, investors weighed the U.S. rates outlook after a week of mixed signals
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Global stocks retreat after record highsBond market borrowing costs and the U.S. dollar rose after the Fed nudged back rate cut expectations
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks near all-time highs ahead of expected ECB rate cutBut what the European central bank does after that remains subject to much debate
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks wilt after U.S. bond yield jump as rate cut doubts resurfaceU.S. yields climbed after consumer confidence data came in stronger than expected and Fed’s Neel Kashkari said further rate hikes were still a possibility
Source: globeandmail - 🏆 5. / 92 Read more »