(ABM FN) The Brussels stock exchange is expected to open higher on Tuesday. Futures on the Euro Stoxx 50 index were 0.3 percent in the green about an hour before the stock market bell.
The Bel20 rose another 0.4 percent to 3,929.00 points on Monday. D’Ieteren set a new record of 213.80 euros during the session.
Sentiment was positive at the start of the new stock market week, as the chance of an interest rate cut by the Federal Reserve in September has increased again, following Friday’s weaker-than-expected US jobs figures.
“A lower-than-expected jobs number for April combined with a higher unemployment rate and a slightly lower average hourly wage revived the idea of a soft landing. Hence the falling bond yields and higher chances of rate cuts,” said Frank Vranken of Bank Edmond de Rothschild.
“The Fed is not in a position to cut rates immediately, but could do so slightly sooner than thought early last week,” Swissquote Bank said.
On Wall Street, the main indicator S&P 500 closed 1.0 percent in the green on Monday evening.
The focus will now shift back to the corporate figures of Walt Disney, BP and Zalando today, and AB InBev, Uber and Airbnb on Wednesday. The macroeconomic agenda is fairly empty today.
Sentiment in Asia was mainly positive this morning. The leader was the KOSPI index in Seoul, which rose 2.0 percent after a holiday. The stock market in Japan also recorded higher after a day off on Monday. The Nikkei gained 1.4 percent, while Sydney gained 1.0 percent after the Reserve Bank of Australia’s interest rate decision. The Chinese stock markets, on the other hand, were in the red.
The Australian central bank kept its main interest rate unchanged at 4.35 percent for the fourth time in a row, as expected. The central bank said in a statement that while inflation is declining, it is still too high given the 2.0 percent inflation target.
Oil prices showed little movement at $78.61 a barrel, after rising modestly Monday evening in New York.
Company news
Solvay performed better than expected in the first quarter of 2024 and reiterated its full-year outlook.
Wall Street closing positions
The S&P 500 index rose 1.0 percent to 5,180.74 points on Monday, the Dow Jones index gained 0.5 percent to 38,852.27 points and the Nasdaq closed 1.2 percent higher at 16,349.25 points.
Source: ABM Financial News
ABM Financial News is a supplier of stock market news, video and data, both for real-time trading platforms and dealing rooms and for online and offline media publications. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
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