A measure of calm was returning after Israel's retaliatory strike on Iran spooked the market and spurred a rush to safe havens such as gold.
Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the U.S. stock rally, which has flagged as expectations for interest cuts fade. Tesla, Meta Platforms, Alphabet and Microsoft - all set to report next week - are part of the group of companies that had been dubbed the Magnificent Seven as they led the S&P 500 to a 24% gain last year. The companies are seen as important bellwethers due to dominant positions atop their industries, while heavy index weightings give their share price moves an outsize influence on benchmarks such as the S&P 500.
(Bloomberg) -- The European Central Bank could lower borrowing costs in both June and July, should disinflation in the euro zone be stronger than anticipated, Governing Council member Gediminas Simkus said.Most Read from BloombergElon Wants His Money BackDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingOil Erases Advance After Iranian Media Downplays Israel’s AttackThe Lithu
U.S. automakers General Motors and Ford face a challenge in common when they report first-quarter results next week: Explaining to investors where profit growth will come from in the months ahead as EV growth slows. The slowdown in global electric-vehicle demand, intensifying competition from Chinese automakers and high U.S. borrowing costs have forced the U.S. automakers to delay investments and ratchet down costs over the past 12 months. With China's economy slowing and U.S. inflation running hot, a macroeconomic growth boost looks a long way off.
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