On Monday, global stocks gained broadly at the start of a week filled with earnings and three central bank meetings that may see the UK and United States open the door to interest rate cuts, while Japan may increase borrowing costs in another step toward “normality”.
The EURO zone inflation and gross domestic product data, closely watched surveys on global and U.S. manufacturing, and the U.S. jobs report for July, are also due this week.
After a gentle inflation report for June, markets are betting that the Federal Reserve will open the door for a rate cut in September at its policy meeting on Wednesday.
Futures are fully priced for easing of 0.25% in September and even give a 12% probability of a cut of 0.50%, and have 0.68% of easing priced in by Dec.
The MSCI index of global shares was 0.17% higher.
On Monday the S&P 500 and the NASDAQ rose, bolstered by megacap stocks, while the dow jones declined.
About 40% of the S&P 500 by market cap will deliver reports this week, including tech darlings apple , Microsoft, Facebook -parent Meta Platforms, and amazon .com.
As expectations are high, any hint of disappointment will challenge the mega-caps’ sky-high valuations.
European stocks fell 0.22%.
