1. French election rally: The euro surged 1.2% against the dollar on Monday after pro-European reformer Emmanuel Macron emerged as the front runner to become the next French president. The independent candidate topped far-right leader Marine Le Pen in the first round of voting Sunday. They will face off in a second round on May 7.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +217.00 | | +59.50 | | +28.75 | | +1.06% | | +1.09% | | +1.22% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +255.13 | | -43.62 | | +136.46 | | 18,875.88 | | 3,129.53 | | 7,251.01 | | +1.37% | | -1.37% | | +1.92% | | | |
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| Key Stats | Latest | Today's Change | | | Oil | $50.05 | +0.43 / +0.87% | | | Gold | $1,273.00 | -16.10 / -1.25% | | | 10-yr | 2.24% | -0.00 / -0.18% | | | Euro | $1.09 | +0.01 / +1.28% | | | |
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| News: What you need to know about the markets | | | | | | | French election rally; China stocks plunge; Oil stabilizes | By Ivana Kottasová
Monday, April 24th, 5:07am | | | | 1. French election rally: The euro surged 1.2% against the dollar on Monday after pro-European reformer Emmanuel Macron emerged as the front runner to become the next French president. | | | | The independent candidate topped far-right leader Marine Le Pen in the first round of voting Sunday. They will face off in a second round on May 7. | | | | France's benchmark stock index gained 4% in early trading, led by a strong performance from banking stocks. | | | | The difference between yields on French and German government bonds has narrowed on Monday, another sign that investors are relieved by the result. | | | | 2. China stocks tank: Chinese markets suffered their worst fall in three months after regulators signaled a further clampdown on leveraged trading and "abnormal phenomena" in the country's capital markets. | | | | The benchmark Shanghai Composite Index fell as much as 1.9%, while the smaller tech-heavy Shenzhen Composite closed 2.4% down. | | | | 3. Oil prices stabilize: U.S. crude futures have recovered some of the ground lost last week on fears of increased output from American producers. | | | | Oil is now trading near $50. | | | | 4. Global market overview: U.S. stock futures were almost 1% higher early Monday. | | | | European markets were having a banner day as investors cheered election results in France. Markets in the U.K., Germany and France were all up between 2% and 4%. | | | | Asian markets ended the session mixed. | | | | The Dow Jones industrial average finished 0.2% lower on Friday, while the S&P 500 was down 0.3% and the Nasdaq shed 0.1%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Stock market movers -- Bank of America, Jimmy Choo: Shares in Bank of America jumped 2% premarket after the bank reported better than expected results on Friday. | | | | Shares in Jimmy Choo surged 6.5% in London after the luxury shoe maker put itself up for sale. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Monday -- French election reaction; German business climate survey
Tuesday -- U.S. data on new home sales and consumer confidence
Wednesday -- Steve Mnuchin speaks on tax reform; Twitter reports earnings; Crude oil inventories report
Thursday -- Alphabet, Microsoft and Amazon report earnings; ECB meeting; U.S. trade balance data
Friday -- GM earnings; U.S. and U.K. first quarter GDP data | | | | -- Alec Macfarlane contributed reporting. | | | | | | | |
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