LIVE MARKETS-Europe before the bell: Stocks set for gain as Fed rate hike bets recede
SPY•Major European index futures edge higher
Euro STOXX 50 futures STXEc1 are up about 0.2% on Monday after the index gained for a fourth straight week last week. DAX FDXc1, CAC FCEc1 and FTSE futures FFIc1 are all up a touch too.
European stocks set to open slightly higher
European equity futures are signalling a slightly positive open as markets continue to trim their expectations for a rate hike at the Fed September's policy meeting.
Investors are now pricing in about a 25% chance of a quarter-point rate rise next month, after recent data suggested a stuttering labour market and signs of easing inflationary pressures. Before the recent payrolls report, investors had priced in about a 50-50 chance of a hike.
The diminishing risk of a near-term rate hike is giving global equities a boost.
Argenx in focus after positive trial results
In corporate news, eyes could be on Belgium's argenx ARGX.BR after the company reported positive topline results in a phase three trial of its drug efgartigimod.
Markets watch the Middle East and energy prices
Markets are still watching the Middle East although energy markets are seeing a muted start to the week, with Brent LCOc1 and WTI CLc1 both slightly lower.
