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Stocks and the euro take off after French election; gold and bonds sell off

Published 04/23/2017, 08:38 PM
Updated 04/23/2017, 08:38 PM
© Reuters.  Stocks and the euro take off after French election; gold and bonds sell off
  • Marine Le Pen made it out of the first round of France's presidential election, but her loss in early May's runoff against centrist candidate Emmanuel Macron seems almost assured - a snap poll conducted today has her losing by 20 points in a two-way race.
  • With what may have been an existential threat against the EU about to be eliminated, German Dax (NYSEARCA:EWG) futures are higher by 1.15%. French (NYSEARCA:EWQ) futures aren't trading. FTSE 100 (NYSEARCA:EWU) futures are up 0.6%.
  • The euro (NYSEARCA:FXE) is ahead 1.1% vs. the dollar.
  • S&P 500 (NYSEARCA:SPY), Nasdaq 100 (NASDAQ:QQQ), and DJIA (NYSEARCA:DIA) futures are all higher by about 0.8%.
  • Alongside the bid for risk assets, gold (NYSEARCA:GLD) is lower by 1.1%, and the 10-year Treasury yield (TLT, TBT) is up seven basis points to 2.31%.
  • Now read: S&P 500 Weekly Forecast 4/24


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