US and Russian representatives met for five hours in Moscow, and while no agreement emerged, both sides said negotiations made tangible progress even as “significant work” remains to be done. The diplomatic push comes as the conflict in Ukraine nears its fourth year and as Europe struggles to maintain unity over its financial support framework. Belgium rejected the EU’s proposal to tap frozen Russian assets to fund Ukraine, warning that such a move could trigger legal and financial risks for Euroclear, the Brussels-based clearing giant.
Markets are treading cautiously ahead of a dense slate of US economic releases later this week. Investors will parse the ADP private-sector jobs report as well as Friday’s PCE inflation data — the Federal Reserve’s preferred gauge — for clues on the timing and scale of potential rate cuts.
With the European earnings season nearing completion, LSEG IBES now estimates year-on-year profit growth at 7.3%, offering some reassurance about corporate resilience despite weak macro signals.
Bitcoin climbed to a two-week high as the broader crypto market continues to recover, while gold traded steadily around $4,228.
European equities advanced roughly 0.5% in early trading, led by Spain’s 1.5% rally. Asia delivered a mixed session, with Japan gaining slightly over 1% even as Hong Kong fell by a similar margin. US futures pointed to modest gains at the open.