Despite the Fed’s best efforts, the US economy has maintained its momentum throughout this year, dashing expectations of a possible deflation. Although employment growth was slower in June, the strong numbers continued to put pressure on the Federal Reserve to increase rates, although consumer spending saw a slight cooling in May compared to the previous month. Earlier today, both European stocks and Wall Street futures showed bullish trends, while the dollar showed signs of weakness. This move came in anticipation of the upcoming US inflation statistics, which were expected to indicate a drop in price growth to the lowest level seen in more than two years for the month of June. Representing a broad spectrum of European stocks, the Stoxx 600 rose in value by 0.7 percent, driven by stocks in commodities and healthcare. At the same time, the French CAC 40 index rose by 0.8%, and the German DAX index also grew in value by 0.7% during the first hours of trading. The FTSE 100 in London showed a positive trend, matching the CAC 40 index and rose 0.8% with all sectors except real estate showing gains.
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