Wall Street Rises, Euro Falls to Lowest Level in 17 Months

Wall Street indices are trading higher this Monday, continuing last week's trend. France's fiscal situation has driven the euro to its lowest level in 17 months, negatively impacting European assets. Political stagnation in France has triggered sales of vulnerable debt in the eurozone, and concerns have spread to Spain following President Pedro Sánchez's call for early elections. German bonds remain a safe haven, with the 10-year yield stable, while yields on French, Italian, and Spanish bonds are rising. The euro fell 0.4% against the dollar, trading at $1.1161. U.S. Treasury yields are rising, reaching 5.3% on the 10-year segment, the highest level since 2004. Brent crude fell 0.2% to $102.1 per barrel, and WTI crude dropped 0.78% to $90.3. On Wall Street, the S&P 500 rose 0.38% and the Nasdaq Composite increased 0.69%, while the Dow Jones fell 0.21%. United Microelectronics is seeking to raise $1.8 billion through convertible bonds. Schneider Electric agreed to acquire PTC for approximately $22.6 billion. Hon Hai Precision reported better-than-expected quarterly revenues. In Europe, the Euro Stoxx rose 0.09%, the German DAX increased 0.22%, and the French CAC fell 0.70%. In Asia, the Hang Seng rose 0.28% and the Nikkei 225 increased 2.45%.

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