News Highlights: Top Global Markets News of the Day - Monday at 5 AM ET

French Markets, Euro Rally After First Round of Elections 
 

French stock markets, government bonds and the euro rallied on expectations of a French cross-party alliance to deny the far-right an overall majority in the second round of the elections.

 
Far Right Wins First Round of French Parliamentary Elections 
 

Le Pen's National Rally is on track to score an unprecedented haul of parliamentary seats in the July 7 runoff.

 
Rising Government Debt Threatens Financial Stability, Inflation, BIS Says 
 

Governments should cut back on borrowing to ease one of the biggest threats to the stability of the global financial system and support efforts to tame inflation, the Bank for International Settlements said.

 
China's Manufacturing Sector Stays in Contraction for Second Straight Month 
 

The data underscored the difficulties the world's second largest economy faced after Beijing's efforts to resuscitate its property sector.

 
Large Japanese Manufacturers Sentiment Improves Amid Rate-Hike Expectations 
 

Sentiment among large Japanese manufacturers improved during the three months to June.

 
Even a Slowly Cooling Labor Market Often Ends With a Recession 
 

The job market rarely rebalances painlessly. The Fed hopes this time is different.

 
VC-Backed IPOs Had a Tepid First Half, Squeezing Venture Capital More 
 

Hopes for a resurgence of venture-backed initial public offerings at the start of the year are petering out, prolonging a drought in exits for venture-capital firms.

 
No Nvidia in Your Portfolio? 'You're Just Toast' 
 

In this year's bull market, there are artificial-intelligence plays like Nvidia-and then there's everything else.

 
It's Home-Building Season, but No One Is Buying Lumber 
 

Sawmill closures haven't stopped wood prices from falling to postpandemic lows, a warning sign that residential construction and home-improvement markets are buckling.

 
Week Ahead for FX, Bonds: French, U.K. Elections; U.S. Jobs Data in Focus 
 

In Europe, investors' attention will be glued firmly to politics, while in the U.S., focus will switch back to jobs data and how soon the Federal Reserve may start cutting interest rates.

(END) Dow Jones Newswires

July 01, 2024 05:15 ET (09:15 GMT)

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