Did you know that France’s government debt-to-GDP ratio is among the highest in Europe, which can limit fiscal policy options?

And given the recent election debacle, stability is very much needed in France.

In today’s edition, we cover the following topics:

• France’s Center Right Bloc Offers Legislative Pact To Macron: First, we’ll look at the political maneuvering in France 📝

• Trump Is Still The Front Runner: Next, we’ll examine the current U.S. political scenario with this year’s election 🥇

• S&P 500 Earnings On The Rise: Finally, we’ll give an overview of the latest earnings season 🚀

Stay tuned for our analyses and expert insights that can help you understand the financial world. Have a great weekend!

France’s Center Right Bloc Offers Legislative Pact To Macron 📝

France’s center-right bloc has proposed a “legislative pact” that could pave the way for a broader deal with French President Macron’s party as political leaders struggle to form a government.

Macron’s decision to call snap elections delivered a hung parliament, in which no political group won a majority, leaving France without a governing coalition.

The center right is offering to support Macron’s legislative agenda as long as it doesn’t include measures that it opposes, such as tax increases 💰

The ultimate goal of this overture to Macron is to weaken the influence of the left in France, which actually holds the largest bloc of parliamentary seats, although not nearly enough to qualify as a majority.

Trump Is Still The Front Runner 🥇

With Kamala Harris slated to win the nomination in the Democratic Party, she faces an uphill battle against Trump.

According to a New York Times analysis, Harris has trailed Trump in nearly every national and battleground state poll this year, while Harris’s favorability ratings have generally trailed both Biden and Trump.

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S&P 500 Earnings On The Rise 🚀

According to FactSet’s Earnings Insight, the blended growth rate for Q2 S&P 500 earnings is running at 9.7%, up from 8.9% at the end of June.

Of the 14% of the index that has reported, 80% have surprised to the upside.

Companies are beating expectations, on average, by 5.5%, which is below the 6.5% one year average positive surprise rate and the five year average of 8.6%.

However, Wall Street still sees earnings season as off to a good start as beat rates are much more difficult because of the already strong earnings estimates from Wall Street analysts 📊

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