Stocks cautious at start of week, markets watch US vote

The FTSE MIB opened the week up 0.04% at 49,519 points, partially recovering after the black Friday recorded on American technology markets. At midday the Milan index was gaining 0.32% at 49,658 points. This is reported by Investing.com and Soldionline, both based on market data from Borsa Italiana.

The reference to black Friday concerns the Wall Street session of October 30: the Dow Jones lost 1.09% in the final hour of trading, while the S&P 500 decline reached 1.82%. The sharpest losses were concentrated on the Nasdaq, hit by below-expectations quarterly results from some of the leading US technology groups.

On the bond front, the spread between ten-year Btp and Bund held above 110 points at midday, with the ten-year Btp yield above 4.45%. A level that reflects the widespread caution on European bond markets at this stage.

The element orienting the entire session, according to both sources, is the wait for the outcome of the United States midterm elections, scheduled for tomorrow, November 3: an event considered a key moment for equity, bond and currency assets globally, capable of shaping investors’ choices in the coming days.

Against a backdrop marked by last week’s turbulence in the technology sector, European markets thus appear to be moving with caution, limiting fluctuations ahead of a political event that could redefine expectations for the coming months. The spread figure remains for now the most immediate indicator of Italian and European investors’ caution toward the American electoral appointment.