European Shares Set To Open Lower On Hawkish Fed Remarks

RTTNews | 857 days ago
European Shares Set To Open Lower On Hawkish Fed Remarks

(RTTNews) - European stocks are likely to open lower on Tuesday as investors digest hawkish comments from Federal Reserve officials and look toward the release of U.S. consumer price inflation data on Thursday for more clarity on rate hikes.

Asian markets traded mostly lower amid concerns about the U.S. and Europe slipping into recession this year.

The downside remained capped somewhat after reports suggested that many parts of China are already past their peak of COVID-19 infections.

Gold held steady as the U.S. dollar languished near a seven-month low against other major currencies. Oil prices slipped after three consecutive sessions of gains.

U.S. stocks gave up early gains to end mixed overnight as presidents of the U.S central bank's San Francisco and Atlanta branches said the Fed will have to keep raising rates to somewhere above 5 percent in order to slow down inflation.

The Dow slipped 0.3 percent and the S&P 500 finished marginally lower while the tech-heavy Nasdaq Composite rose 0.6 percent as Treasury yields fell across the board.

European shares hit their highest level since May 2022 on Monday, with sentiment boosted by optimism surrounding China's reopening and positive readings on German industrial output and Eurozone investor confidence.

The pan-European STOXX 600 gained 0.9 percent. The German DAX rallied 1.3 percent, France's CAC 40 index added 0.7 percent and the U.K.'s FTSE 100 rose 0.3 percent.

read more
U.S. Dollar Higher On Trade Hopes

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.
RTTNews | 3h 11min ago
Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.
RTTNews | 5h 1min ago
European Stocks Close Week On Positive Note

European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.
RTTNews | 5h 24min ago
Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.
RTTNews | 6h 12min ago
U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
RTTNews | 8h 18min ago
U.S. Import, Export Prices Unexpectedly Inch Higher In April

U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.
RTTNews | 8h 21min ago
Eurozone Trade Surplus Surges On Exports To US

Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.
RTTNews | 9h 11min ago