European Shares May Struggle For Direction Ahead Of US Inflation Data

RTTNews | 866 dias atrás

(RTTNews) - European stocks may struggle for direction on Wednesday as investors react to mixed comments from Federal Reserve officials on how the central bank should view its policy path.

Ahead of the Federal Open Market Committee meeting next month, Chicago Fed President Austan Goolsbee called for "prudence and patience" in the face of recent banking stress.

On the other hand, New York Fed President John Williams said that Fed officials still have more work to do to bring down prices and the rate path will depend on incoming data.

Investors await a report on U.S. consumer inflation and the minutes of the Federal Reserve's last meeting later in the day for further direction.

Economists expect consumer prices to rise by 0.3 percent in March, while the annual rate of growth is expected to slow to 5.2 percent from 6.0 percent.

Reports on U.S. producer prices, retail sales and industrial production due later in the week could also have a significant impact on the outlook for interest rates.

The U.S. earnings season also remains on investors' radar, with financial giants Citigroup, JPMorgan Chase and Wells Fargo due to report their quarterly results on Friday.

Asian markets were seeing modest gains, the dollar index dipped, and Treasury yields portrayed cautious optimism, while oil traded flat after climbing nearly 2 percent overnight. Gold rose about 1 percent on dollar weakness.

U.S. stocks ended mixed overnight after the International Monetary Fund cut its global growth forecast and warned it was too soon to sound the all-clear from the banking turmoil.

The S&P 500 finished marginally lower and the tech-heavy Nasdaq Composite dropped 0.4 percent, while the Dow gained 0.3 percent.

European stocks rose on Tuesday as traders returned to their desks following the long Easter holiday weekend.

The pan-European STOXX 600 climbed 0.6 percent as soft inflation data from China stoked optimism about additional stimulus.

The German DAX rose 0.4 percent, France's CAC 40 index climbed 0.9 percent and the U.K.'s FTSE 100 added 0.6 percent.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 23 minutos atrás

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 53 minutos atrás

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 1h 8min atrás

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 23min atrás