(Bloomberg) — European stocks and US futures gained as investors’ focus shifted from Middle East tensions to a raft of company earnings scheduled for this week, including reports by more than half of the “Magnificent Seven” cohort of tech megacaps.
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The Stoxx Europe 600 index gained about 0.2%, recouping some of last week’s slide as traders took comfort from the absence of further escalation from Iran following Israel’s retaliatory strike. S&P 500 futures advanced by about 0.4% after the US gauge recorded its worst week since March 2023.
Demand for havens eased, after US Treasuries and the dollar were whipsawed last week by Middle East tensions as well as hawkish comments from Federal Reserve officials indicating reluctance to cut rates anytime soon. A Bloomberg dollar index was steady while the yield on 10-year US Treasury yields advanced two basis points. Oil and gold both fell.
“We are seeing a…
