After posting their best performance in a month last week, global stocks extended their gains on Monday.
In premarket trading, US futures rose, with the NASDAQ 100 rising 0.5% and technology heavyweights such as Amazon, Apple, and Microsoft rising. Tech stocks also boosted European and Asian indexes.
Equities may benefit from quarterly portfolio rebalancing by institutional buyers, as investors assess whether inflation is cresting and a recession can be avoided. Marko Kolanovic of JPMorgan Chase predicts that stocks will rise 7% this week as pension and sovereign wealth funds shift their exposure.
Treasuries fell, bringing the 10-Yr US Note rate to 3.16%. On growth concerns, yields have retreated from June highs, but whether this signals the end of the treasury bear market remains to be seen. The US currency fluctuated.
EU and the US are partnering to diversify energy supplies to Europe.
ECB: ECB moves announcement of its monetary policy decisions to 14:15 CET, starting 21st July 2022.
Iran: New round of nuclear talks to be held this week.