46 minutes ago
European stocks open mixed
European stocks had a cautious start on Monday, with the regional Stoxx 600 index up 0.07% by 8:40 a.m. in London after opening near flat.
Germany’s DAX, Britain’s FTSE 100 and France’s CAC 40 all rose about 0.25%.
See chart…
STOXX 600 index.
Friday, May 17, 2024 12:59 PM EDT
Wells Fargo says stock prices will be volatile in the short term, then rise at the end of the year
Stocks have recently climbed to record highs, but Wells Fargo expects that trend to reverse.
Analyst Christopher Harvey said the “bad news = good news” pattern is driving major stock indexes to new records. But he thinks the market is unlikely to continue rising consistently, at least for now.
“We expect volatility in the near term due to the year-end rally towards SPX 5535’s target,” he wrote.
Harvey’s year-end S&P 500 index target implies a 4.5% rise in the benchmark.
— Lisa Kailai Han
Friday, May 17 2024 2:26 PM EDT
UBS says the Fed will cut interest rates this year due to a “resurgence of disinflation”
Weak economic data in recent weeks has strengthened the argument that investors may finally receive a long-awaited interest rate cut in 2024, UBS argued in a note on Friday.
“We continue to believe that recent economic data support our view that a return to disinflation should allow the Fed to begin easing policy later this year,” the bank said.
UBS added that price pressures have also eased in categories such as housing in recent months, which should help reduce overall inflation.
— Lisa Kailai Han
4 hours ago
European Market: Click here for opening call
European markets are expected to open higher on Monday.
According to IG data, the UK’s FTSE 100 index rose 16 points to 8,433, Germany’s DAX rose 51 points to 18,759, France’s CAC rose 27 points to 8,186 and Italy’s FTSE MIB rose 130 points to open at 35,194. It is expected that
Revenue comes from Ryanair. The data release includes German producer prices for April.
— Holly Ellyatt
