Fiona Cincotta

U.S. stocks are set to rise modestly on the open as the Trump trade continues, and investors digest comments from Fed Powell, including the latest US retail sales and earnings. Retail sales ex-autos rose 0.4%, reversing a trend of falling sales. Earnings continue to roll in with BAC and MS beating forecasts.

US stocks are pointing to a modestly positive start after strong gains last week; the Nasdaq 100 and S&P500 hover around record highs, boosted by optimism that the Federal Reserve could start to cut interest rates as soon as September. The economic calendar is quiet today, but Federal Reserve Chair Powell testifies before the Senate Banking Committee this week. US CPI data will also be in focus.

US stocks are set for a modestly higher start as Q43 kicks off. This week, US non-farm payroll data, a speech by Fed Chair Powell, and the release of the FOMC minutes will be in focus and could provide further clues over when the Fed could start cutting rates. The market has raised rate cut expectations after Friday's core PCE data showed inflation cooling to a 3-year low.

The first round of the French election has shown that the far right is unlikely to form an absolute majority. The CAC40 is outperforming, with banks leading the charge. Eurozone inflation data is in focus ahead of Suvday's second round of voting. UK stocks are also gearing up from the UK election on July 4th, with housebuilders such as Visrry and bricks and mortar retailers in focus.

U.S. stocks are pointing to a stronger start after the Federal Reserve's preferred gauge of inflation slowed in May, supporting the case for a rate cut this year. The market is also digesting the first presidential debate, which saw Trump emerge as the clear winner and raised questions over Biden's ability to run for another term.