5 Things You Need to Know to Start Your Day: Americas

Good morning. Stocks rise on easing bets, Indian equities rebound and Ray Dalio names the biggest global risks. Here’s what traders are talk [View in browser]( [Bloomberg]( Good morning. Stocks rise on easing bets, Indian equities rebound and Ray Dalio names the biggest global risks. Here’s what traders are talking about.— [David Goodman]( Want to receive this newsletter in Spanish? [Sign up to get the Five Things: Spanish Edition newsletter](. Stocks rise Global stocks advanced and [US futures pointed to more gains]( on speculation that a cooling economy will give the Federal Reserve room to lower rates this year. Treasury yields were steady after their largest two-day drop for 2024, with markets shifting their focus to Wednesday’s private employment figures and the all-important payrolls data later this week. ECB challenge The week’s other big policy event is Thursday’s European Central Bank meeting, where officials are widely expected to cut rates from a record high. Still, the uptick in euro-zone inflation is [increasingly drawing comparisons]( to the US — fueling concerns that going forward, the ECB could face similar impediments to lowering rates as the Fed. India rebound Indian stocks rebounded after an alliance partner of Prime Minister Narendra Modi’s party [affirmed support to form a coalition government](. The Nifty 50 Index rose more than 2%, recouping some of Tuesday’s loss when the gauge fell the most in four years. The development comes after Modi vowed to continue as India’s prime minister even after his party unexpectedly lost its majority in parliament. Dalio warning Ray Dalio, billionaire investor and founder of Bridgewater Associates, said the world is [entering a period of greater risks]( on the back of enormous debt creation, unprecedented internal conflicts in developed countries and great power clashes. He flagged, in particular, the issue of whether the US election result will be accepted by both parties. In addition, US policies toward China may lead to “a great risk of economic sanctions that would be really terrible for the world,” Dalio said. HPE jumps Hewlett Packard Enterprise shares [surged as much as 16%]( in premarket trading after the company reported revenue that beat analysts’ estimates on a big jump in sales of servers built to handle artificial intelligence work. Meamwhile, Dollar Tree edged lower after the Wall Street Journal reported it was exploring the sale of its Family Dollar arm. What we’ve been reading This is what’s caught our eye over the past 24 hours. - Sunak hits Starmer on taxes, but [struggles to damage rival](. - David Sacks tried the 2024 alternatives. Now [he’s all-in on Trump](. - Oil[holds near four-month low]( on signs of rising US stockpiles. - UK landlord likely to join FTSE 100 as [Ocado ends six-year stay](. - Activists have [a simple message for London firms](: list elsewhere. And finally, here's what Joe’s interested in this morning While we wait for Friday's non-farm payrolls, here's two key charts from yesterday's JOLTS report: The yellow line is the total number of job openings, which came in just above 8 million, and solidly below economist expectations. The white line is the quit rate, which has flatlined for a few months, and remains beneath pre-Covid levels. This report led to a pretty notable drop in 2-year yields right when it came out yesterday, though that got erased quickly. Still, it adds to the building narrative that there’s some kind of softening trend underway, after a hot first quarter of the year. Meanwhile, Citi's US economic surprise index has been negative since early May, and has resumed sliding over the last few days. Joe Weisenthal is the co-host of Bloomberg’s Odd Lots podcast. Follow him on X [@TheStalwart]( Like Bloomberg's Five Things? [Subscribe for unlimited access]( to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. [Bloomberg Markets Wrap: The latest on what's moving global markets. Tap to read.]( Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Five Things to Start Your Day: Americas Edition newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](