- Following three days of declines, European equities rose, while US futures moved slightly higher after the House approved an agreement to prevent a US default and Federal Reserve officials suggested a pause in interest-rate increases.
- Data revealed that the euro-area inflation slowed more than analysts had predicted in May, and banks and automakers were among the top performers in the STOXX Europe 600 index.
- If the debt-ceiling agreement reached by Biden and House Speaker Kevin McCarthy is approved, the bill will be forwarded to the Senate ahead of the June 5 default deadline. The strong economic data from China and remarks from Fed officials who supported the likelihood of keeping rates unchanged at the next meeting contributed to the upbeat mood.
- ECB's President Lagarde: Inflation is too high and it is set to remain so for too long. We can't yet say that we are satisfied with the inflation outlook.
