AI Stocks Lead a Rebound on Wall Street as European Markets Drop Following Protests
AI-linked stocks lifted Wall Street as investors awaited major earnings, while French markets fell on protests that pushed up borrowing costs and hit retailer Carrefour.
- Mass protests over rising living costs and poor school conditions swept across France over the weekend, with shops ransacked in Paris and a fire destroying the historic town hall in Limoges.
- French government bonds, known as OATs, faced significant selloffs Friday as 10-year yields reached around 4.78%, with the spread over German debt widening to roughly 137 basis points.
- Charlotte de Montpellier, ING's senior economist, noted reforming the pension system is "highly unpopular" and necessary to stabilize France's debt trajectory amid acute fiscal dilemmas.
- Investment manager Ninety One warned Monday that failing to pass the 2027 budget could push France's deficit above the European Union's 3% limit, threatening governing stability.
- Capital Economics markets economist Elias Hilmer forecast French spreads could widen to 200 basis points by late 2027, with the European Central Bank potentially reluctant to intervene.
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228 Articles
International investors are currently more critical of the country than Italy or Greece. French government bond yields, a risk indicator, have been at the highest level since 2002.
European shares fell after the start of trading. Investors expressed concerns that protests in France will slow down efforts to cut spending. The pan-European STOXX Europe 600 index, which tracks trading on stock exchanges in Britain and selected EU countries, was down 0.66 percent at 635 points after 09:30 CEST.
European stock markets fell yesterday as bond yields jumped.
AI stocks lead a rebound on Wall Street as European markets drop following protests - WXXV News 25
By STAN CHOE NEW YORK (AP) — Stocks in the artificial-intelligence industry bounced back on Wall Street Monday and recovered some of their steep losses from last week, but the rest of the market and stocks worldwide were shaky. The S&P 500 rose 0.4%, coming off its worst week since June, and the Nasdaq composite rallied 1.1% because it’s full...
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