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MONDAY MARKET WRAP AND KEY OUTLOOK FOR THE WEEK

Olusegun Enujowo

Analyst

Equity markets remain in bearish mood, with little volatility as investors await key economic data and earnings reportsEuropean stocks and US equity futures decline slightly extending last week's losses.  

Stoxx Europe 600 down, mining companies and oil producers leading losses, while S&P 500 (- 0.35%) and Nasdaq 100 (-0.4%) contracts extend losses in US pre-market trading.

Fed expected to continue raising interest rates to tackle inflation. Swaps markets anticipate peak Fed rates followed by cuts later this year.  

Upcoming US GDP data (Wed) and core PCE deflator (Fri) may show slowing growth and cooling inflation. German business climate data came in slightly worse than expected.

Cross-asset volatility gauge remains low, as we expect Eurozone GDP data and monetary policy decision in Sweden this week

Busy week for earnings including Coca Cola, First Republic Bank, First Citizens Bank, Microsoft, Meta Platforms, Amazon etc. Now this is good news for stock traders    

Credit Suisse reports Q1 outflows and net revenue today with expectations of significant wealth management loss for the year 

Key Earnings Reports:

Coca-Cola (KO) ...US

Credit Suisse Group (CS)  ...CH/US

First Republic Bank (FRC) ...US

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