Download the Publication Global stocks were up following Emmanuel Macron’s victory on Sunday making him the youngest elected French President. According to official government data, Macron managed to win 66% of the votes against just under 34% for Le Pen. Macron is expected to take office by May 14.

Tokyo and Seoul steered stock markets higher after U.S. stocks closed at a record Friday on better-than-expected data on American jobs. European stocks were among the few losers, mainly pulled down by commodities producers, while in China the prolonged selloff has wiped more than $400 billion from the value of local shares. The euro was lower at $1.0963 given that for investors the Macron-win was fully priced in prior to the final vote.

Oil rose to $46.27 a barrel as analysts inferred that last week’s tumble to five-month low wasn’t supported by fundamental factors but rather technical trading. In addition, Saudi Arabia and Russia reiterated their commitment to extend production cuts into 2018 on an effort to eliminate supply surplus further boosting the price of oil. Gold climbed to a level of $1230.49 per ounce following last week’s drop of 3.2 percent.

Following the end of the French elections, investors are now turning their attention on global growth and corporate earnings, after last week’s robust American jobs report and Federal Reserve comments that boosted optimism in the U.S. economy.

Here’s what global investors will be monitoring this week:

• The annual Sohn Investment Conference in New York City, where top-tier Wall Street investors including David Einhorn and Bill Ackman will share their insights.
• Fed official Loretta Mester speaks on the U.S. economy in Chicago and James Bullard participates in a panel discussion in Atlanta on Monday. Central bank policy makers left interest rates unchanged last week, indicating that a disappointing first quarter wouldn’t stop them from raising rates twice more in 2017 following a hike in March.
• South Korea presidential elections following the large corruption scandal and removal of Park Geun-hye. Polls show former opposition leader Moon Jae-in, who favors a softer confrontation against North Korea, well ahead of centrist Ahn Cheol-soo.
• Earnings releases continue this week and include results from Walt Disney Co., Mitsubishi Corp., Toyota Motor Corp., Deutsche Telekom AG and Continental AG.

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Source: Bloomberg