Euro 2024: Misfiring England faces on-form Switzerland for a semifinal spot

DUESSELDORF, Germany (AP) — England will play Switzerland in the quarterfinals of the European Championship on Saturday. England manager Gareth Southgate says his team looks “in a different place mentally” after struggling to an extra-time win over Slovakia. Jude Bellingham is available after avoiding a ban for an offensive gesture. Switzerland exceeded expectations by knocking out defending champion Italy. The winner will play the Netherlands or Turkey in the semifinals. Kickoff is at 6 p.m. local (1600 GMT) in Duesseldorf. Here’s what to know about the match:

— England is playing its fourth quarterfinal at a major tournament under England manager Gareth Southgate and won two of the previous three. Southgate's cautious tactics have brought hefty criticism from England fans, some of whom threw plastic cups at him in the group stage.

— Jude Bellingham's last-minute overhead kick to send England's last-16 game with Slovakia to extra time has been one of the most dramatic moments of Euro 2024. Defender John Stones said Thursday that surviving that brush with elimination gave the team new confidence.

— Switzerland coach Murat Yakin has won a reputation for smart tactics at Euro 2024, especially by outclassing an Italy team packed with more famous names in the round of 16.

— England is playing two days after a general election ended 14 years of rule by the Conservative Party. It didn't make waves in the England camp, which Stones called a “politics-free zone."

— Bellingham is available after he avoided an immediate ban from UEFA, which investigated an allegedly crude gesture he made during the Slovakia game. UEFA fined Bellingham 30,000 euros ($32,500) and gave him a one-game ban that only takes effect if he breaks the rules again during a one-year probationary period. He has denied he was mocking Slovakia when he seemed to gesture toward his crotch.

— Southgate has refused to rule out switching to a back five against Switzerland. “We're always considering the best way to approach a game,” he said on Friday when asked about the prospect.

— England defender Marc Guéhi is suspended after picking up a second booking against Slovakia. Ezri Konsa, who came off the bench in extra time in that game, is the favorite to replace him in the center of defense alongside Stones.

— Stones wore heavy strapping on his right knee in training Wednesday but said Thursday he's fit to play.

— Bellingham, forward Phil Foden and full back Kieran Trippier are among five England players who would miss the semifinals if booked against Switzerland. Captain Granit Xhaka is one of four Swiss players in the same situation.

— Xhaka is fit after training individually earlier this week, Yakin said on Friday.

— Southgate is marking his 100th game in charge and it could be his last. His contract expires after the tournament.

— Switzerland hasn't beaten England for 43 years. Harry Kane scored the winning goal when England had a comeback 2-1 win the last time they played in a 2022 friendly.

— It's only the third time the Swiss team is playing in the quarterfinals of a major tournament. It has yet to reach a semifinal. A penalty-shootout loss to Spain in the quarterfinals of Euro 2020 was its best European Championship showing.

— “Every team wants to excite, every team wants to score goals. We've played opponents who've made it very, very difficult for us. ... There’s been a lot of expectation on the team in the early part of the tournament, especially. I feel that the team, even in training now, look in a different place mentally. They look more fluid and I’m expecting us to play well tomorrow.” — England manager Gareth Southgate.

— “The other night, I thought we were going home after 60 minutes of the game. To change the mindset of us all and keep that belief and faith, it’s got a lot of power behind that for ourselves, other teams. Everyone watching at home knows that we’re there to do it right until the last minute, literally. And, I think we should take great confidence from that.” — England defender John Stones.

— “No matter how they played, they are in the quarterfinals, so no one is interested how they played in the group stage and in the games before that. They have a lot of quality and any time they can hurt their opponents, so we need to be prepared for that.” — Switzerland defender Fabian Schär warns against underestimating England.

AP Euro 2024: https://apnews.com/hub/euro-2024

England's manager Gareth Southgate looks on during a training session in Blankenhain, Germany, Friday July 5, 2024 ahead of the quarter final match against Switzerland at the Euro 2024 soccer tournament. (AP Photo/Thanassis Stavrakis)

England's manager Gareth Southgate walks on the pitch during a training session in Blankenhain, Germany, Friday July 5, 2024 ahead of the quarter final match against Switzerland at the Euro 2024 soccer tournament. (AP Photo/Thanassis Stavrakis)

Switzerland's Remo Freuler, right, celebrates with Granit Xhaka after scoring the opening goal during a round of sixteen match between Switzerland and Italy at the Euro 2024 soccer tournament in Berlin, Germany, Saturday, June 29, 2024. (AP Photo/Ariel Schalit)

Switzerland's head coach Murat Yakin center left, smiles during a training session of the Swiss national soccer team in Stuttgart, Germany, Tuesday, July 2, 2024. (Peter Klaunzer/Keystone via AP)

England's Harry Kane, second left, takes part in a training session in Blankenhain, Germany, Wednesday, July 3, 2024 ahead of the quarter final round match against Switzerland at the Euro 2024 soccer tournament. (AP Photo/Thanassis Stavrakis)

England's manager Gareth Southgate embraces goalkeeper Jordan Pickford at the end of a round of sixteen match between England and Slovakia at the Euro 2024 soccer tournament in Gelsenkirchen, Germany, Sunday, June 30, 2024. England won 2-1. (AP Photo/Thanassis Stavrakis)

HONG KONG (AP) — Asian stocks fell Monday, with the Euro dropping on the shock French election outcome, while U.S. stocks rose to more records Friday boosted by a highly anticipated report on the job market.

U.S. futures and oil prices decline.

The euro climbed above $1.08, while the gains were tempered by the surprising results of the French parliamentary elections.

The left-wing New Popular Front has won the most seats in the 2024 French legislative election, beating back a far-right surge but failing to win a majority. The result leaves France facing the stunning prospect of a hung parliament and worries of political and policy uncertainty.

The currency fell to $1.0819 from $1.0836 Monday.

In Tokyo, the Nikkei 225 index was down 0.3% to 40,780.70 despite official data showing the real wages fell 1.4% year on year in May, a decline for the 26th straight month as the weakening yen and higher commodity costs pushed up the cost of imports. While the nominal wages rose 1.9%.

Hong Kong’s Hang Seng index declined 1.8% to 17,484.93 and the Shanghai Composite index dropped 0.7% to 2,928.08.

Australia’s S&P/ASX 200 sank 0.8% to 7,763.20 while South Korea’s Kospi edged 0.1% lower to 2,859.20.

On Friday, the S&P 500 climbed 0.5% to 5,567.19, setting an all-time high for a third straight day following Thursday’s pause in trading for the Fourth of July holiday. The index has already set 34 records and climbed close to 17% this year, which is only a little more than halfway done.

The Dow Jones Industrial Average rose 0.2% to 39,375.87, while the Nasdaq composite added 0.9% to 18,352.76.

The action was more decisive in the bond market, where Treasury yields sank following the 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, growth for workers’ wages slowed and the U.S. government said hiring in earlier months was lower than 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.

In other dealings Monday, U.S. benchmark crude oil gave up 44 cents, down to $82.72 per barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, the international standard, declined 42 cents to $86.12 per barrel.

The U.S. dollar rose to 160.75 Japanese yen from 160.72 yen.

People stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm under the intense sun Monday, July 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

People are reflected on the window of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, July 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm under the intense sun Monday, July 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

People stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm under the intense sun Monday, July 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

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)

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)