40 Mins Ago
Europe stocks open mixed
European stocks had a cautious start Monday, with the regional Stoxx 600 index opening near the flatline before climbing 0.07% by 8:40 a.m. in London.
Germany’s DAX, the U.K.’ s FTSE 100 and France’s CAC 40 were all roughly 0.25% higher.
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Stoxx 600 index.
Fri, May 17 2024 12:59 PM EDT
Stocks will experience near-term choppiness followed by a late-year rally, Wells Fargo says
Stocks have rallied to record highs recently, but Wells Fargo is expecting this trend to turn on its head.
Analyst Christopher Harvey pointed out that the “bad news = good news” narrative has pushed the major stock indexes to new records. However, he believes the market is unlikely to continue pushing higher consistently, at least for now.
“Expect near-term choppiness with a late-year rally toward our SPX 5535 target,” he wrote.
Harvey’s year-end S&P 500 target represents a 4.5% move upward for the benchmark.
— Lisa Kailai Han
Fri, May 17 2024 2:26 PM EDT
The Fed will cut rates this year upon a ‘return of disinflation,’ UBS says
Softer economic data in recent weeks bolsters the argument that investors may finally receive some much-anticipated rate cuts in 2024, UBS argued in a Friday note.
“We continue to believe recent economic data underpin our view that a return of disinflation should allow the Fed to start easing policy later this year,” the bank wrote.
UBS added that price pressures have also been easing in recent months in categories such as shelter, which should help bring down overall inflation.
— Lisa Kailai Han
4 Hours Ago
European markets: Here are the opening calls
European markets are expected to open higher Monday.
The U.K.’s FTSE 100 index is expected to open 16 points higher at 8,433, Germany’s DAX up 51 points at 18,759, France’s CAC 27 points higher at 8,186 and Italy’s FTSE MIB up 130 points at 35,194, according to data from IG.
Earnings come from Ryanair. Data releases include German producer prices for April.
— Holly Ellyatt
Source: European markets start the week mixed; Richemont up 5%
