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European Markets Seen Lower With Tech Stocks In Focus

RTTNews | 957 days ago

(RTTNews) - European stocks may open lower on Wednesday, with tech stocks likely to be in focus after Alphabet and Microsoft posted disappointing earnings results.

Google parent Alphabet said it would slow hiring and control expenses after earnings and revenue missed expectations.

Microsoft Corp, which is battling a slumping PC market and a strong dollar, forecast second-quarter revenue below Wall Street targets across its business units.

Earnings from Apple and Amazon are scheduled for Thursday.

Asian markets followed Wall Street higher amid signs that longer-term yields may have peaked and that Fed rate increases are already working to slow the world's largest economy.

The dollar flirted with a three-week low versus major peers, while the British pound hung close to the six-week peak reached on Tuesday after new Prime Minister Rishi Sunak pledged to lead the country out of a "profound economic crisis".

Gold traded slightly higher while oil prices fell after industry data showed U.S. crude oil stockpiles rose more than expected in the week ended Oct. 21.

Overnight, U.S. stocks rallied to score a three-day winning streak after a sharp pullback by Treasury yields and better than expected third quarter earnings from the likes of General Motors and Coca-Cola.

The Dow rose 1.1 percent, the tech-heavy Nasdaq Composite jumped 2.3 percent and the S&P 500 added 1.6 percent to reach their best closing levels in over a month as weak data on housing prices and consumer confidence stoked hopes the Fed will slow its aggressive pace of interest rate hikes.

European stocks closed higher on Tuesday as investors digested a slew of strong earnings updates and looked ahead to upcoming policy announcements from the ECB and the Federal Reserve.

The pan-European STOXX 600 index rose 1.4 percent to close at its highest level since Sept 20. The German DAX gained 0.9 percent and France's CAC 40 index climbed 1.9 percent while the U.K.'s FTSE 100 ended marginally lower.

Canadian Market Up Marginally In Cautious Trade

After a flat start and a subsequent drop to lower levels, the Canadian market emerged into positive territory about an hour past noon on Monday, but remains somewhat subdued with investors seeming reluctant to make significant moves. The mood is cautious as investors await U.S. - China trade talks in London.

RTTNews | 36 minutes ago

European Stocks Close Weak After Cautious Session

European markets settled lower on Monday after a subdued performance as investors awaited the outcome of U.S.-China high-level trade talks in London. Also, a lack of regional economic data and earnings news contributed to the cautious mood in the markets.

RTTNews | 1h 4min ago

FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention or CDC are investigating a Salmonella Enteritidis outbreak linked to brown eggs that sickened nearly 79 across 7 states. Associated with the ongoing probe, August Egg Co. recalled around 1.70 million dozen brown cage-free and brown certified organic eggs sold through Walmart and other retail locations.

RTTNews | 4h 50min ago

Bay Street May Open Slightly Higher

Canadian shares may open slightly higher on Monday amid optimism about some positive progress in U.S.-China trade talks. Energy stocks are likely to find some support on higher crude oil prices.. The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies.

RTTNews | 6h 42min ago

FTSE 100 Down Marginally At Noon

The U.K. market is down marginally at noon on Monday with investors mostly making cautious moves amid a lack of triggers. The focus is on trade talks between the U.S. and Chinese officials in London. Weak Chinese exports data weighs on sentiment.

RTTNews | 7h 54min ago

CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in lackluster trade on Monday with investors refraining from making significant moves as they await the high-level trade talks between U.S. and Chinese officials in London later in the day.

RTTNews | 8h 15min ago

DAX Down Over 0.5% In Cautious Trade

German stocks are down in negative territory on Monday as investors make cautious moves while awaiting crucial talks between U.S. and Chinese officials in London later in the day. The discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.

RTTNews | 8h 36min ago

Sensex, Nifty End Modestly Higher; Banks And Financials Surge

Indian shares eked out modest gains on Monday as top officials from the U.S. and China meet in London later in the day to resolve their differences and ease rare-earth mineral tensions.

RTTNews | 8h 46min ago

EURUSD	1.1425	GBPUSD	1.35621	AUDUSD	0.65238
USDJPY	144.529	USDCAD	1.36787	USDCHF	0.82135