European stocks are set to open cautiously higher on Monday after gains seen last Friday, although Italy’s main index is seen opening in negative territory.
Friday's relief rally came as traders bet that the Federal Reserve will be less aggressive at its upcoming meeting. Thereported Sunday that the central bank is on track to lift interest rates by 75 basis points at its meeting later this month, rather than a larger, full-percentage-point increase that some analysts had forecast.
Recession fears have dominated trading sentiment in recent weeks as market participants worry that aggressive action from the Fed — in an effort to tame decades-high inflation — will ultimately tip the economy into a recession., a hotter-than-expected reading and the largest increase since 1981. That, in turn, led traders to bet that the Fed could raise rates by a full percentage point at its meeting at the end of July.
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