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DAX Sees Modest Gains In Cautious Trade
(RTTNews) - German stocks were seeing modest gains on Monday as investors assessed the outlook for inflation and economic growth.
Traders will monitor U.S. consumer price inflation data and retail sales figures due this week for a better understanding of how the Federal Reserve would pull off a soft landing.
The benchmark DAX was up 35 points, or 0.2 percent, at 15,343 after losing 1.4 percent on Friday.
Asian markets ended broadly lower earlier in the day, while U.S. stock futures were down after the S&P 500 and Nasdaq ended their worst week in nearly two months.
The euro traded lower against the dollar for a second straight session, hitting five-week lows amid a widening policy gap between Europe and the United States.
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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.
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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.
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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.
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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.
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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.
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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.
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U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply
While the Commerce Department released a report on Friday showing a rebound by new residential construction in the U.S. in the month of April, the report also showed a substantial pullback by building permits during the month.
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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.
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