EU stock markets uncertain; Moderna soars on Wall Street. Gold rallies as the US Treasury buys back its own bonds - Il Sole 24 ORE

European markets opened the session without a clear direction, as investors weighed a mix of corporate earnings and macroeconomic signals. The absence of a unified catalyst left major indices hovering near flat lines, reflecting caution ahead of upcoming data releases and central bank commentary. Such uncertainty is typical when markets are caught between hopes for softer policy and lingering concerns about inflation.

Across the Atlantic, Moderna shares surged on Wall Street. While the specific driver was not detailed in the report, sharp single-stock moves often follow clinical trial updates, regulatory news, or changes in analyst sentiment. For investors, such volatility underscores the importance of understanding company-specific catalysts rather than extrapolating broader market trends from one stock’s performance.

Gold also caught attention, rallying as the US Treasury executed a buyback of its own bonds. This operation reduces the outstanding supply of securities, which can support bond prices and, by extension, dampen yields. Lower yields typically reduce the opportunity cost of holding non-yielding gold, making the metal more attractive. Observers should watch whether this buyback is a one-off liquidity measure or part of a broader debt-management strategy, as well as its potential influence on the Federal Reserve’s policy path.