Markets Cautious Ahead of Technology Earnings: Global stocks struggled for direction ahead of major technology earnings and central bank decisions. Nasdaq 100 futures slipped, Asian equities edged lower and European markets pointed to a firmer open. Investors are watching Microsoft, Alphabet and Amazon for evidence that AI spending can sustain the sector’s momentum.
Central Banks Face Persistent Inflation Pressures: The Federal Reserve and Bank of Japan face difficult policy decisions amid persistent inflation and elevated energy costs. Brent crude fell 1.5% to around $115 a barrel amid uncertainty over US-Iran relations, while safe-haven demand pushed the US 10-year Treasury yield down to 4.97%.
Political Developments Drive French and Brazilian Markets: French bonds rallied after Moody’s maintained the country’s credit rating and concerns over renewed widespread unrest eased. Brazilian assets came under sharp pressure following Lula’s unexpected election victory over Flávio Bolsonaro, who called for the result to be annulled. A Tokyo-listed fund tracking Brazilian stocks fell as much as 16%, while currency derivatives pointed to a potentially steep decline in the real amid concerns over government debt and currency weakness.
In Focus This Week
- Microsoft Earnings
- Alphabet Earnings
- Amazon Earnings
- Federal Reserve Policy Decision
- Bank of Japan Policy Decision
Key Market Moves Today
- S&P 500 Futures: +0.15% (7,671)
- Crude Oil: -1.71% ($101.52)
- Spot Gold: +0.49% ($4,015)
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