- US equity futures rose on Friday, along with European stocks, as China's latest stimulus package injected some optimism at the end of another volatile week for global markets.
- Futures on the S&P 500 and the Nasdaq 100 both rose more than 1%, despite modest losses on Wall Street on Thursday. Treasury yields rose slightly, and the dollar held steady following its biggest one-day drop since 2020. Oil prices remained above $111 per barrel.
- The Stoxx Europe 600 index rose 1.5%, reversing the previous week's losses. After two days of declines, automakers led the rally. As industrial metals rallied, basic resources outperformed. Consumer goods were the only sector in the red, as Richemont fell after the Swiss watch and jewellery maker predicted difficult times ahead.
- BoE's Pill: Inflation forecast will rise into double digits.
- Eurozone Money Markets now price in roughly 52% chance of a 50 BPS ECB rate hike in July, versus 44% on Thursday.
- ECB's Kazaks: I hope the first rate increase will happen in July.