NEW YORK (AP) — U.S. stocks are rising toward more records Friday after a highly anticipated report on the job market bolstered Wall Street's hopes that interest rates may soon get easier.
The S&P 500 was 0.4% higher and on track to set an all-time high for a third straight day following Thursday's pause in trading for the Fourth of July holiday. The Dow Jones Industrial Average was edging up by 14 points, or less than 0.1%, as of 2:30 p.m. Eastern time, and the Nasdaq composite was adding 0.8% to its own record.
Click to Gallery
NEW YORK (AP) — U.S. stocks are rising toward more records Friday after a highly anticipated report on the job market bolstered Wall Street's hopes that interest rates may soon get easier.
The New York Stock Exchange is seen on Wednesday, July 3, 2024, in New York. Wall Street is leaning toward minuscule gains before the bell ahead of the Fourth of July holiday. (AP Photo/Peter Morgan)
A passerby walks past an electronic stock board showing Japan's Nikkei 225 index, right, at a securities firm Thursday, July 4, 2024 in Tokyo. Japan’s Nikkei 225 benchmark closed Thursday at a fresh record high of 40,913.65, pushing past its most recent record close set in March. (Kyodo News via AP)
FILE - A person walks past at an electronic stock board showing Japan's stock prices at a securities firm in Tokyo, June 27, 2024. Asian shares were mostly lower on Friday, July 5, after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday. (AP Photo/Shuji Kajiyama, File)
FILE - A person walks past at an electronic stock board showing financial indexes including Japan's Nikkei 225 index, green, at a securities firm in Tokyo, June 27, 2024. Asian shares were mostly lower on Friday, July 5, after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday. (AP Photo/Shuji Kajiyama, File)
The action was more decisive in the bond market, where Treasury yields sank following the nuanced U.S. jobs report. Employers hired more workers last month than economists expected, but the number was still a slowdown from May’s hiring. Plus, the unemployment rate unexpectedly ticked higher, and the U.S. government said hiring in earlier months was lower than it had previously indicated.
Altogether, the data reinforced belief on Wall Street that the U.S. economy’s growth is slowing under the weight of high interest rates. That’s precisely what investors want to see, because a slowdown would keep a lid on inflation and could push the Federal Reserve to begin cutting its main interest rate from the highest level in two decades.
The question is whether the economy can remain in this Goldilocks state of not too hot and not too cold, while the Federal Reserve times its next moves precisely. The hope is that the Fed will lower interest rates early and significantly enough to keep the economic slowdown from sliding into a recession, but not so much that it allows inflation to regain strength and take off again.
The clearest takeaway from the jobs report for financial markets was that it keeps the Fed on track to cut its main interest rate later this year, likely in September and perhaps again in December. The two-year Treasury yield, which closely tracks expectations for Fed action, fell to 4.60% from 4.71% late Wednesday.
The yield on the 10-year Treasury, which is the centerpiece of the bond market, fell to 4.27% from 4.36% late Wednesday and from 4.70% in April. That's a notable move for the bond market and offers support for stock prices.
Friday’s jobs report follows a mass of data showing a slowdown across the U.S. economy. Reports earlier this week said business activity in both the U.S. services and manufacturing sectors contracted last month, turning in weaker readings than economists expected. And U.S. shoppers at the lower end of the income spectrum have been showing how difficult it is to keep up with still-rising prices, as balances owed on credit cards swell.
“What matters for long-term investors is whether fears of a recession become a reality,” said Brian Jacobsen, chief economist at Annex Wealth Management. “We think it’s unlikely we’ll see a recession this year or next, but that doesn’t mean the markets won’t fear one.”
On Wall Street, gold miner Newmont rose 2.2% for one of the larger gains in the S&P 500. It benefited from a rise for the price of gold, which usually strengthens when interest rates fall. It's the flip side of when rates are rising and bonds are paying higher yields, which can pull investors away from gold, which pays its holders nothing.
Gains for some big, influential stocks also helped support the market, even though the majority of stocks within the S&P 500 fell. Meta Platforms rose 4.9%, and Apple added 1.7%.
Amazon rose 1.2% after the announcement of a deal where the parent company of Saks Fifth Avenue will buy Neiman Marcus Group for $2.65 billion. Amazon will hold a minority stake in the deal.
On the losing end of Wall Street were companies tied closely to cryptocurrency activity, as bitcoin briefly tumbled below $54,000 from nearly $63,000 early this week. The cryptocurrency's value is roughly back to where it was in February.
Coinbase Global slipped 0.8%, and Robinhood Markets fell 1.1%.
In stock markets abroad, London’s FTSE 100 fell 0.5% after U.K. voters ushered in a new regime by throwing out Conservatives in this week’s national election.
The United Kingdom experienced a run of turbulent years during Conservative rule that left many voters pessimistic about their country’s future. The U.K.’s exit from the European Union followed by the COVID-19 pandemic and Russia’s invasion of Ukraine battered the economy. Rising poverty and cuts to state services have led to gripes about “Broken Britain.”
Germany’s DAX rose 0.1% after the government agreed on a budget for 2025 and a stimulus package for Europe’s largest economy, ending a monthslong squabble that threatened to upend Chancellor Olaf Scholz’s center-left coalition.
The disagreements had fueled speculation that the already unpopular government could collapse and prompt a snap parliamentary election in which Germany could follow other European countries by swinging toward the political right.
In Asia, Japan’s Nikkei 225 topped the 41,000 level early on Friday to rise above its record closing level set on Thursday, but it ended the day marginally lower.
__
AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
FILE - The New York Stock Exchange is seen on Wednesday, July 3, 2024, in New York. Shares advanced Friday, July 5, 2024, in Europe after Britain's Labour Party prevailed over the Conservatives in this week's national election. (AP Photo/Peter Morgan, File)
The New York Stock Exchange is seen on Wednesday, July 3, 2024, in New York. Wall Street is leaning toward minuscule gains before the bell ahead of the Fourth of July holiday. (AP Photo/Peter Morgan)
A passerby walks past an electronic stock board showing Japan's Nikkei 225 index, right, at a securities firm Thursday, July 4, 2024 in Tokyo. Japan’s Nikkei 225 benchmark closed Thursday at a fresh record high of 40,913.65, pushing past its most recent record close set in March. (Kyodo News via AP)
FILE - A person walks past at an electronic stock board showing Japan's stock prices at a securities firm in Tokyo, June 27, 2024. Asian shares were mostly lower on Friday, July 5, after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday. (AP Photo/Shuji Kajiyama, File)
FILE - A person walks past at an electronic stock board showing financial indexes including Japan's Nikkei 225 index, green, at a securities firm in Tokyo, June 27, 2024. Asian shares were mostly lower on Friday, July 5, after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday. (AP Photo/Shuji Kajiyama, File)
Final results in France say a leftist coalition that came together to try to keep the far right from power has won the most parliamentary seats in runoff elections. There was high voter turnout Sunday.
President Emmanuel Macron’s centrist alliance has come in second and the far right in third. No one has a majority of parliament seats. The far right has drastically increased the number of seats it holds in parliament but fell far short of expectations.
The prime minister says he will turn in his resignation. Many questions lie ahead.
What happens next in this nuclear-armed nation has potential impact on the war in Ukraine, global diplomacy and Europe’s economic stability.
Here’s the latest:
Final results say a coalition of the French left has won the most seats in legislative elections.
The leftist coalition has taken the most seats in parliament, with at least 181. Macron’s centrists have more than 160 seats. Marine Le Pen’s far-right National Rally have 143 seats after leading in the first round.
There is no majority for anyone, so the unpopular Macron will have to form alliances to run the government.
France now faces the stunning prospect of a hung parliament and political paralysis in a pillar of the European Union. The Paris Olympics are less than three weeks away.
French Prime Minister Gabriel Attal says he will resign after a leftist coalition surged to the lead in legislative elections.
Attal says he will remain in the post during the upcoming Paris Olympics and for as long as needed, given that polling projections show that no party has won an outright majority. There likely will be weeks of intense political negotiations to choose a new prime minister and form a government.
The leftist coalition dominated in the parliamentary vote, followed by President Emmanuel Macron’s centrists, with the far right in third. The results were a defeat for Macron, with no party in a majority. The unpopular president risks being forced to share power with a prime minister opposed to his pro-business, pro-European Union policies.
President Emmanuel Macron’s office says he will “wait for the new National Assembly to organize itself” before making any decisions on the new government.
The National Assembly is scheduled to gather in full session for the first time on July 18. The statement says Macron will ensure the “sovereign choice of the French people will be respected.”
Surprise polling projections say a coalition on the left that came together to try to keep the far right from power has won the most parliamentary seats, with Macron's alliance second and the far-right National Rally third.
The president of France’s far-right National Rally has claimed historic gains for the party despite surprise projections showing it has fallen far short of expectations.
Jordan Bardella also blamed President Emmanuel Macron for “pushing France into uncertainty and instability.”
In a somber speech after the second-round vote, Bardella denounced the political maneuvering that led the National Rally to fall far short of expectations. An unprecedented number of candidates who qualified for the runoff stepped aside to allow an opponent to go head-to-head with the National Rally candidate, increasing the chances of defeating them.
The anti-immigration, nationalist party still increased its seat count in parliament to an unprecedented high, according to polling projections. No party won a majority.
Leftist leader Jean-Luc Mélenchon says the surprise results of the legislative elections are an “immense relief for a majority of people in our country.” He is also demanding the resignation of the prime minister.
Mélenchon is the most prominent of the leftist leaders who unexpectedly came together ahead of the two-round elections. Polling projections have put the leftist coalition in front, followed by President Emmanuel Macron’s centrist alliance and the far right in third.
There is a lack of majority in parliament for any single alliance.
Polling projections say a coalition on the left that came together unexpectedly ahead of France’s snap elections has won the most parliamentary seats.
The surprise projections put President Emmanuel Macron’s centrist alliance in second and the far right in third. The lack of majority for any single alliance has plunged France into political and economic turmoil.
Final results are not expected until late Sunday or early Monday in the snap election that was called just four weeks ago in a huge gamble for Macron.
The deeply unpopular president lost control of parliament, according to the projections. The far right drastically increased the number of seats it holds in parliament but fell far short of expectations.
France now faces the prospect of weeks of political machinations to determine who will be prime minister and lead the National Assembly. And Macron faces the prospect of leading the country alongside a prime minister opposed to most of his domestic policies.
French President Emmanuel Macron is meeting with leaders from his weakened majority alliance before polls close in Sunday’s second round of legislative elections. Among those present is Prime Minister Gabriel Attal, according to an aide to the president who spoke on condition of anonymity to discuss the closed-door meeting.
Many of Macron’s centrist political allies are furious at his decision to call the surprise elections just three weeks after the far-right National Rally trounced his party in European elections. They fear the centrist coalition will be wiped out in favor of the far right and left.
The first-round vote on June 30 saw major gains for the National Rally, potentially putting the far right in a position to govern France for the first time since World War II. Macron risks being forced to share power with a prime minister opposed to his pro-business, pro-European Union policies.
Some French youth are astonished by the number of people supporting the far-right National Rally in legislative elections.
Nawel Marrouchi is 15 and wishes she was old enough to vote. “As a binational, I am directly concerned,” the French-Moroccan said in Paris. She fears racism will gain even more ground: “In my class, one guy said once that foreigners shouldn’t get housing. But my father was an immigrant. They should go to these countries to understand why they are coming here.”
Jessica Saada is 31 and says “I think young people have not woken up yet. They don’t realize.” She is baffled by the party’s past and present positions on issues like wearing a headscarf in public: “It’s just going to cause problems and bring more hate.”
Even if the anti-immigration party doesn’t win a majority in parliament, she believes the damage is done.
With three hours to go before polls close in France's second round of high-stakes legislative elections, the latest figure on the turnout is 59.71%. It’s the highest turnout since 1981 at this time in the voting day.
The overall turnout is on track to be the highest in four decades. Polls close at 8 p.m. local time.
In the restive French Pacific territory of New Caledonia, a pro-independence Indigenous Kanak candidate has won a seat in France’s parliament over a loyalist candidate in the second round of voting.
Emmanuel Tjibaou is a political novice and a son of a well-known Kanak independence leader, Jean-Marie Tjibaou, who was assassinated in 1989. He is the first pro-independence candidate to win a seat in the National Assembly since 1986.
Indigenous Kanaks have long sought to break free from France, which took the archipelago in 1853. Polls closed earlier in New Caledonia because of a curfew imposed in response to the violence that flared last month and left nine people dead. There was anger over an attempt by the government of President Emmanuel Macron to amend the French Constitution and change voting lists, which Indigenous Kanaks feared would further marginalize them.
Right-wing candidate and French loyalist Nicolas Metzdorf has won New Caledonia’s second parliament seat.
French President Emmanuel Macron voted in high-stakes legislative elections Sunday that could force him to share power with the rising far right.
Macron called the surprise vote after the anti-immigration, nationalist National Rally made huge gains in the June 9 European elections, taking a huge gamble that French voters would block the far-right party as they always have in the past.
But the National Rally instead won a larger share than ever in the first round on June 30, and its leader Marine Le Pen called on voters to give the party an absolute majority in the second round.
Sunday’s vote determines which party controls the National Assembly and who will be prime minister. If no party wins an absolute majority, forming a government comes only after extensive negotiations.
As of noon local time, turnout was at 26.63%, according to France’s interior ministry. That’s slightly higher than the 25.90% reported at the same time during the first round of voting last Sunday.
Voters at a Paris polling station were acutely aware of the elections’ far-reaching consequences for France and beyond.
“The individual freedoms, tolerance and respect for others is what at stake today,” said Thomas Bertrand, a 45-year-old voter who works in advertising. He voted at a school where, as at all French schools, the national motto “Liberty, Equality, Fraternity” was displayed prominently.
Pierre Lubin, a 45-year-old business manager, was worried about whether the elections would produce an effective government.
“This is a concern for us,” Lubin said. “Will it be a technical government or a coalition government made up of (different) political forces?”
Even with the outcome still in doubt, Valerie Dodeman, a 55-year-old legal expert, said she is pessimistic about the future of France.
“No matter what happens, I think this election will leave people disgruntled on all sides,” Dodeman said.
Prime Minister Gabriel Attal cast his ballot in the Paris suburb of Vanves Sunday morning.
Macron is expected to vote later in the seaside town of La Touquet, while Le Pen is not voting after winning her district in northern France outright last week. Across France, 76 candidates secured seats in the first round, including 39 from her National Rally, 32 from the leftist New Popular Front alliance, and two from Macron’s centrist list.
Voting opened Sunday in mainland France for the second round of high-stake legislative elections that have already seen the largest gains ever for the country’s far-right National Rally party.
French President Emmanuel Macron took a huge gamble in dissolving parliament and calling for the elections after his centrists were trounced in European elections on June 9. The first round on June 30 saw the largest gains ever for the anti-immigration, nationalist National Rally, led by Marine Le Pen. Sunday’s vote determines which party controls the National Assembly and who will be prime minister.
If support is further eroded for Macron’s weak centrist majority, he will be forced to share power with parties opposed to most of his pro-business, pro-European Union policies.
The second-round voting began Saturday in France’s overseas territories from the South Pacific to the Caribbean, Indian Ocean and North Atlantic. The elections wrap up Sunday at 8 p.m. (1800 GMT) in mainland France. Initial polling projections are expected Sunday night, with early official results expected late Sunday and early Monday.
Opposition parties made hurried deals ahead of Sunday's second round of voting to try to block a landslide victory for Marine Le Pen’s far-right National Rally in the legislative elections, as she said her party would lead the government only if it won an absolute majority — or close to it.
An unprecedented number of candidates who qualified for Round 2 from the left-wing alliance of the New Popular Front and from President Emmanuel Macron’s weakened centrists have stepped aside to favor the candidate most likely to win against a National Rally opponent.
According to a count by French newspaper Le Monde, some 218 candidates who were supposed to compete in the second round have pulled out. Of those, 130 were on the left, and 82 came from the Macron-led centrist alliance Ensemble.
People gather at the statue on Republique plaza following the second round of the legislative elections, Sunday, July 7, 2024 in Paris. A coalition of the French left that quickly banded together to beat a surging far right in legislative elections won the most seats in parliament but not a majority, according to polling projections Sunday, a stunning outcome that threatens to plunge the country into political and economic turmoil. (AP Photo/Aurelien Morissard)
People gather at the Republique plaza after the second round of the legislative election, Sunday, July 7, 2024 in Paris. Surprise polling projections in France say a leftist coalition that came together to try to keep the far right from power has won the most parliamentary seats in runoff elections after a high turnout among voters. (AP Photo/Louise Delmotte)
People gather at the Republique plaza after the second round of the legislative election, Sunday, July 7, 2024, in Paris. Surprise polling projections in France say a leftist coalition that came together to try to keep the far right from power has won the most parliamentary seats in runoff elections after a high turnout among voters. (AP Photo/Louise Delmotte)
People gather at the Republique plaza after the second round of the legislative election, Sunday, July 7, 2024, in Paris. Surprise polling projections in France say a leftist coalition that came together to try to keep the far right from power has won the most parliamentary seats in runoff elections after a high turnout among voters. (AP Photo/Louise Delmotte)
Fireworks go off as people stand in Republique Plaza and react to the projection of results during the second round of the legislative elections, in Paris, France. Polls have closed in France, and polling projections say a coalition on the left that came together unexpectedly has won the most parliamentary seats in the pivotal runoff elections after a high turnout among voters. (AP Photo/Christophe Ena)
French Prime Minister Gabriel Attal walks back to the Prime Minister residence after delivering a speech following the second round of the legislative elections, Sunday, July 7, 2024 in Paris. A coalition of the French left that quickly banded together to beat a surging far right in legislative elections won the most seats in parliament but not a majority, according to polling projections Sunday, a stunning outcome that threatens to plunge the country into political and economic turmoil. (AP Photo/Aurelien Morissard)
People gather at the Republique plaza after the second round of the legislative election, Sunday, July 7, 2024 in Paris. Surprise polling projections in France say a leftist coalition that came together to try to keep the far right from power has won the most parliamentary seats in runoff elections. There was high voter turnout. (AP Photo/Louise Delmotte)
People stand in a square as they react to projected results after the second round of the legislative elections, in Lyon, central France, Sunday, July 7, 2024. Polls have closed in France, and polling projections say a coalition on the left that came together unexpectedly has won the most parliamentary seats in the pivotal runoff elections after a high turnout among voters. (AP Photo/Laurent Cipriani)
Supporters of the Socialist Party react after the second round of the legislative elections, Sunday, July 7, 2024 at their election night headquarters in Paris. A coalition on the left that came together unexpectedly ahead of France's snap elections won the most parliamentary seats in the vote, according to polling projections Sunday. The surprise projections put President Emmanuel Macron's centrist alliance in second and the far right in third. (AP Photo/Aurelien Morissard)
A woman waves the French flag as she reacts to projected results after the second round of the legislative elections, Sunday, July 7, 2024 in Nantes, western France. Polls have closed in France, and polling projections say a coalition on the left that came together unexpectedly has won the most parliamentary seats in the pivotal runoff elections after a high turnout among voters. (AP Photo/Jeremias Gonzalez)
Far-right National Rally party leader Marine Le Pen answers reporters after the second round of the legislative election, Sunday, July 7, 2024 at the party election night headquarters in Paris. A coalition on the left that came together unexpectedly ahead of France's snap elections won the most parliamentary seats in the vote, according to polling projections Sunday. The surprise projections put President Emmanuel Macron's centrist alliance in second and the far right in third. (AP Photo/Louise Delmotte)
French Prime Minister Gabriel Attal walks back to the Prime Minister residence after delivering a speech following the second round of the legislative elections, Sunday, July 7, 2024 in Paris. A coalition of the French left that quickly banded together to beat a surging far right in legislative elections won the most seats in parliament but not a majority, according to polling projections Sunday, a stunning outcome that threatens to plunge the country into political and economic turmoil. (AP Photo/Aurelien Morissard)
People stand in Republique Plaza as they react to the projection of results during the second round of the legislative elections, in Paris, France. Polls have closed in France, and polling projections say a coalition on the left that came together unexpectedly has won the most parliamentary seats in the pivotal runoff elections after a high turnout among voters. (AP Photo/Christophe Ena)
People stand in a square as they react to projected results after the second round of the legislative elections, in Lyon, central France, Sunday, July 7, 2024. Polls have closed in France, and polling projections say a coalition on the left that came together unexpectedly has won the most parliamentary seats in the pivotal runoff elections after a high turnout among voters. (AP Photo/Laurent Cipriani)
Far-right National Rally party president Jordan Bardella delivers a speech after the second round of the legislative election, Sunday, July 7, 2024 at the party election night headquarters in Paris. A coalition on the left that came together unexpectedly ahead of France's snap elections won the most parliamentary seats in the vote, according to polling projections Sunday. The surprise projections put President Emmanuel Macron's centrist alliance in second and the far right in third. (AP Photo/Louise Delmotte)
People react to the projection of results for the second round of the legislative elections, Sunday, July 7, 2024 in Nantes, western France. Voting is underway in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision, or produce a hung parliament and political deadlock. (AP Photo/Jeremias Gonzalez)
Supporters of the far-left La France Insoumise - LFI - (France Unbowed) parry react at the party election night headquarters, Sunday, July 7, 2024 in Paris. A coalition on the left that came together unexpectedly ahead of France's snap elections won the most parliamentary seats in the vote, according to polling projections Sunday. The surprise projections put President Emmanuel Macron's centrist alliance in second and the far right in third. At left is LFI's Mathilde Pant and at center Manuel Bompard. (AP Photo/Thomas Padilla)
Supporters of the far-left La France Insoumise - LFI - (France Unbowed) parry react at the party election night headquarters, Sunday, July 7, 2024 in Paris. A coalition on the left that came together unexpectedly ahead of France's snap elections won the most parliamentary seats in the vote, according to polling projections Sunday. The surprise projections put President Emmanuel Macron's centrist alliance in second and the far right in third. At left is LFI's Mathilde Pant and at center Manuel Bompard. (AP Photo/Thomas Padilla)
People wait for the results of the second round of the legislative elections, Sunday, July 7, 2024 in Nantes, western France. Voting is underway in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision, or produce a hung parliament and political deadlock. (AP Photo/Jeremias Gonzalez)
People wait for the results of the second round of the legislative elections, Sunday, July 7, 2024 in Nantes, western France. Voting is underway in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision, or produce a hung parliament and political deadlock. (AP Photo/Jeremias Gonzalez)
A woman holds a sign which reads in French '"Racism is not an opinion, it is a crime" as she waits for the results of the second round of the legislative elections, Sunday, July 7, 2024 in Nantes, western France. Voting is underway in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision, or produce a hung parliament and political deadlock. (AP Photo/Jeremias Gonzalez)
Polling station workers begin counting ballots during the second round of the legislative elections, Sunday, July 7, 2024 in Schiltgheim, eastern France. Voting is underway in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision, or produce a hung parliament and political deadlock. (AP Photo/Jean-Francois Badias)
Police vans park outside the National Assembly during the second round of the legislative elections, Sunday, July 7, 2024 in Paris. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Aurelien Morissard)
A couple leaves the voting station during the second round of the legislative elections, Sunday, July 7, 2024 in Olwisheim , eastern France. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Jean-Francois Badias)
A voter leaves a booth at a polling station after voting in the second round of the legislative elections, in Lyon, central France, Sunday, July 7, 2024. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Laurent Cipriani)
A voter makes her choice in the polling booth during the second round of the legislative elections in Le Touquet-Paris-Plage, northern France, Sunday July 7 2024. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and political deadlock. (Mohammed Badra, Pool via AP)
French people living in Switzerland arrive to cast their ballots for the second round of French legislative elections at the polling station "Palexpo" in Geneva, Switzerland, Sunday, July 7, 2024. (Martial Trezzini/Keystone via AP)
French people living in Switzerland cast their ballots for the second round of French legislative elections at the polling station "Palexpo" in Geneva, Switzerland, Sunday, July 7, 2024. (Martial Trezzini/Keystone via AP)
French President Emmanuel Macron arrives to vote for the second round of the legislative elections in Le Touquet-Paris-Plage, northern France, Sunday July 7 2024. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and political deadlock. (Mohammed Badra, Pool via AP)
French President Emmanuel Macron, right, signs after voting for the second round of the legislative elections in Le Touquet-Paris-Plage, northern France, Sunday July 7 2024. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and political deadlock. (Mohammed Badra, Pool via AP)
French President Emmanuel Macron and his wife Brigitte Macron leave the voting booth before voting for the second round of the legislative elections in Le Touquet-Paris-Plage, northern France, Sunday July 7 2024. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and political deadlock. (Mohammed Badra, Pool via AP)
French Prime Minister Gabriel Attal, right, shakes hands with a voter during the second round of the legislative elections, Sunday, July 7, 2024 in Vanves, outside Paris. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (Alain Jocard, Pool via AP)
Voters waits to vote for the second round of the legislative elections, Sunday, July 7, 2024 in Paris. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Thomas Padilla)
A man casts his ballot in the second round of the legislative elections, Sunday, July 7, 2024 in Rennes, western France. (AP Photo/Jeremias Gonzalez)
A voter casts his ballot during the second round of the legislative elections, in Lyon, central France, Sunday, July 7, 2024. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Laurent Cipriani)
A voter casts her ballot during the second round of the legislative elections, Sunday, July 7, 2024 in Paris. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Louise Delmotte)
A woman casts her ballot during the second round of the legislative elections, Sunday, July 7, 2024 in Paris. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Thomas Padilla)
A woman casts her ballot in the second round of the legislative elections, Sunday, July 7, 2024 in Rennes, western France. (AP Photo/Jeremias Gonzalez)
A voter, left, casts his ballot for the second round of the legislative elections, Sunday, July 7, 2024 in Paris. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Louise Delmotte)
French Prime Minister Gabriel Attal, leaves the polling booth before voting for the second round of the legislative election, Sunday, July 7, 2024 in Vanves, outside Paris. Voting has begun in mainland France on Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (Alain Jocard, Pool via AP)
A man picks up ballots in a the voting station during the second round of the legislative elections, Sunday, July 7, 2024 in Olwisheim , eastern France. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Jean-Francois Badias)
A voter places his ballot in the envelope during the second round of the legislative elections, Sunday, July 7, 2024 in Paris. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Louise Delmotte)
A man votes in the second round of the legislative elections, Sunday, July 7, 2024 in Strasbourg, eastern France. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Jean-Francois Badias)
A voter leaves the voting booth before voting in the second round of the legislative elections, Sunday, July 7, 2024 in Strasbourg, eastern France. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Jean-Francois Badias)
A woman casts her ballot in the second round of the legislative elections, Sunday, July 7, 2024 in Strasbourg, eastern France. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Jean-Francois Badias)
A voter takes ballots before voting in the second round of the legislative elections, Sunday, July 7, 2024 in Strasbourg, eastern France. France votes Sunday in pivotal runoff elections that could hand a historic victory to Marine Le Pen's far-right National Rally and its inward-looking, anti-immigrant vision — or produce a hung parliament and years of political deadlock. (AP Photo/Jean-Francois Badias)
FILE - French President Emmanuel Macron leaves the voting booth before voting in the early French parliamentary election, in Le Touquet-Paris-Plage, northern France, Sunday, June 30, 2024. Whatever the outcome of Sunday's runoff is, it's not expected to be a good news for Macron. French media have recently described an "end of reign" atmosphere at the Elysee presidential palace. (Yara Nardi, Pool via AP, File)
FILE - Far-right National Rally party president Jordan Bardella, right, leaves with far-right leader Marine Le Pen after a press conference, Monday, June 24, 2024 in Paris. Both Le Pen and Bardella have made clear that, in power, they would seek to rein-in Macron and exert themselves in defense, European and foreign affairs decision-making. (AP Photo/Christophe Ena, File)
Local city officials prepare voting kits for the legislative election in Strasbourg, eastern France, on Saturday, July 6, 2024. Voters face a decisive choice in the runoff Sunday of snap parliamentary elections that could produce the country’s first far-right government since the World War II Nazi occupation. (AP Photo/Jean-Francois Badias)
Local city officials prepare voting kits for the legislative election in Strasbourg, eastern France, on Saturday, July 6, 2024. Voters face a decisive choice in the runoff Sunday of snap parliamentary elections that could produce the country’s first far-right government since the World War II Nazi occupation. (AP Photo/Jean-Francois Badias)
