European Shares Seen Opening Higher As Fed Worries Ease

RTTNews | 818 일 전

(RTTNews) - European stocks look set to open higher on Friday, as comments from a Federal Reserve official raised hopes that the Fed with stick with a 25-bps rate hike at its next meeting in March.

Asian markets rose broadly despite increased political tensions between the United States and China.

The United States is seeking backing from its allies for imposing new sanctions on China if Beijing provides military support to Russia for its war in Ukraine, media reports said, citing four U.S. officials.

In another development, the leaders of China and Belarus have expressed their "extreme interest" in a peaceful resolution in Ukraine.

Traders also await the outcome of the annual parliamentary gathering in Beijing, which kicks off this weekend to set economic targets and elect a new leadership team.

The dollar eased and was set for its first weekly loss since January ahead of the U.S. ISM non-manufacturing PMI numbers and several FOMC member speeches later in the day.

Data from a private sector survey showed earlier in the day that activity in China's services sector expanded at the fastest pace in six months in February.

Japan's services sector in February expanded at its fastest rate since June 2022, while the services sector in Australia bounced back into expansion in February, separate reports showed.

Gold traded higher and looked set to post its biggest weekly gain since mid-January.

Oil edged down slightly in Asian trading but headed for a weekly gain of nearly 2 percent on optimism over China's recovery.

U.S. stocks rose overnight as Treasury yields retreated from earlier highs on comments from Atlanta Federal Reserve President Raphael Bostic suggesting that he favored "slow and steady" path of interest rate hikes.

In economic releases, weekly jobless claims declined further, indicating continued strength in the labor market, while labor costs grew faster than initially thought in the fourth quarter, separate reports showed.

The Dow rallied 1.1 percent, the tech-heavy Nasdaq Composite gained 0.7 percent and the S&P 500 advanced 0.8 percent.

European stocks closed Thursday's session slightly higher as a measure of euro area inflation slowed and ECB President Christine Lagarde indicated that further interest rate hikes are "possible" after March, depending on the incoming data.

The pan European STOXX 600 rose half a percent. The German DAX edged up 0.2 percent, France's CAC 40 index rose 0.7 percent and the U.K.'s FTSE 100 added 0.4 percent.

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.

RTTNews | 3 시간 49 분 전

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.

RTTNews | 3 시간 51 분 전

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".

RTTNews | 4 시간 26 분 전

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c

RTTNews | 4 시간 53 분 전

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.

RTTNews | 5 시간 8 분 전