European equity markets start the week up as the US and China are making progress in their negotiations, said US Treasury Secretary Steven Mnuchin. Furthermore, European stock markets moved higher at the start of the session, taking advantage of the latest encouraging signs on the evolution of Sino-US trade negotiations and the global economic situation. The Empire State manufacturing indicator rebounded stronger than expected on Monday. A trade agreement thus appears very close between the first two world economic powers.
In addition, companies have generally delivered better than expected results since the start of the earnings season, but forecasts remain mixed, like IBM or Netflix.
Investors are on the lookout for any signal that confirms the recovery in March or on the contrary would strengthen the fear of recession.
Investors will be watching the US corporate earnings season, including Citigroup and Goldman Sachs on Monday.In Europe, a series of important economic indicators is expected this week with the PMI culminating Thursday. On Tuesday, the main European economic meetings are the British job market (10:30) and the Zew index of economic sentiment in Germany (11am). In the United States, the session will be punctuated by the figures of industrial production (15:15), a Robert Kaplan speech of the Fed (20h) and the results of companies: Bank of America, Blackrock, J & J and United Health before the opening as well as Netflix and IBM after closing.
The rise of the euro to more than $ 1.17 does not benefit metals in the commodities market. Brent’s barrel also sank at $ 71 after hitting a high since early November at nearly $ 72.