Stocks stage small bounce as investors weigh cenbanks' next move
Stock markets chalked up modest gains on Monday after last week's hefty losses as investors braced for a host of U.S. Federal Reserve speakers this week, where they could underline a commitment to fight inflation whatever rate pain required.
Trading was thinned by a U.S. holiday.The euro was little moved after French President Emmanuel Macron lost control of the National Assembly in an on Sunday..
a major setback that could throw the country into political paralysis. However, French government bond yields rose, a sign of investor nervousness.
The Euro STOXX (.STOXX) was last up 0.5%. Germany's DAX (.GDAXI) gained 0.43%, while French shares underperformed slightly but were still 0.25% higher (.FCHI) despite Macron's electoral setbacks.
Holger Schmieding, an economist at Berenberg, said Macron's party would now have to learn the art of compromise to push ahead with its policies.
"As most Republicans and other mainstream forces in France are less interested in strengthening European integration than Macron..
his ability to shape and promote the European agenda will be even more limited than before," he said.
Nasdaq futures climbed 0.78% while S&P 500 futures rallied 0.69%.The bounce in futures markets follows the S&P 500 falling almost 6% last week to trade 24% below its January high.