European Shares Steadied on Monday as Germany's Election Produced No Nasty Surprise
European shares steadied on Monday as Germany's election produced no nasty surprise, while Wall Street futures firmed on hopes results from AI diva Nvidia this week would justify the tech sector's sky-high valuations. The euro edged 0.3% higher to $1.0493 after the CDU/CSU won as polls predicted. German's new conservative leader Friedrich Merz has to form a coalition government and it is not yet clear whether that will include one or two partners, with the latter likely to take more time and horse trading.
- The uncertainty surrounding Germany's new government may have a ripple effect on European policymakers' willingness to provide additional support for Ukraine, potentially altering the trajectory of the EU's response to the crisis.
- How will the upcoming Nvidia earnings report shape the tech sector's valuations and influence investor sentiment in the months ahead?