European Shares May Struggle For Direction As US Goes To The Polls

RTTNews | 919 hari yang lalu

(RTTNews) - European stocks may struggle for direction on Tuesday as the U.S. votes for midterm polls.

Today's election will determine whether Democrats maintain control of Congress.

Against the backdrop of Donald Trump's expected jump into the race for the White House in 2024, Trump said he would make a "very big announcement" next week on November 15.

Analysts say that a divided government in Washington is ostensibly bullish for equities.

Investors also await U.S. inflation figures due this week for fresh hints on the Federal Reserve's rate hike path.

Thursday's CPI report may show a modest slowdown in the annual rate of consumer price growth in October, which could add to optimism about a slowdown in the pace of rate hikes.

Asian stocks traded mixed after official data showed COVID-19 cases sharply escalated in Guangzhou and other major Chinese cities.

The dollar was on the back foot and gold traded flat while oil prices hovered below a two-month high.

U.S. stocks rose overnight to add to the strong gains posted last Friday as investors looked ahead to congressional mid-term elections on Tuesday and the release of inflation report on Thursday.

The Dow climbed 1.3 percent, the S&P 500 added 1 percent and the tech-heavy Nasdaq Composite rose 0.9 percent.

European stocks closed mostly higher on Monday, as positive German industrial production and Eurozone investor confidence data helped offset worries about China's economy.

The pan-European STOXX Europe 600 rose 0.3 percent to reach its highest level since Sept. 13.

The German DAX gained 0.6 percent and France's CAC 40 index finished marginally higher while the U.K.'s FTSE 100 dropped half a percent.

Euro Drops Against Majors

The euro weakened against its major counterparts in the New York session on Thursday.

RTTNews | 1j 45min yang lalu

Swiss Market Shrugs Off Weak Start, Ends On Firm Note

After opening weak and remaining subdued till noon, Swiss stocks found some support and kept edging higher on Thursday, and finally ended the day's session on a firm note. Data showing a strong pace of expansion of the Swiss economy in the first quarter of this year aided sentiment.

RTTNews | 3j 28min yang lalu

Major European Markets Recover After Early Setback, Close On Firm Note

Despite an early struggle, the major European markets turned in fairly steady performance as the session progressed on Thursday to eventually close on a firm note. Easing concerns about tariffs and U.S. inflation, and some encouraging regional economic data helped underpin sentiment.

RTTNews | 3j 45min yang lalu

U.S. Business Inventories Inch Up Slightly Less Than Expected In March

The Commerce Department released a report on Thursday showing a slight increase by U.S. business inventories in the month of March. The report said business inventories crept up by 0.1 percent in March after rising by 0.2 percent in February. Economists had expected business inventories to rise by another 0.2 percent.

RTTNews | 5j 0min yang lalu

TSX Rises For 8th Straight Session, Looks Set To Scale New Peak

The Canadian market is up in positive territory, extending gains to an eighth straight session, as the undertone continues to remain firm amid easing concerns about tariffs, and the recent data showing a smaller than expected increase in U.S. consumer price inflation in the month of April.

RTTNews | 5j 5min yang lalu

U.S. Homebuilder Confidence Unexpectedly Slumps In May

Reflecting growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty and the cloudy economic outlook, the National Association of Home Builders released a report on Thursday showing an unexpected slump by U.S. homebuilder confidence in the month of May.

RTTNews | 5j 15min yang lalu

U.S. Industrial Production Unexpectedly Flat In April

With a rebound by utilities output offset by decreases by manufacturing and mining output, the Federal Reserve released a report on Thursday showing industrial production in the U.S. came in unchanged in the month of April. The Fed said industrial production was unchanged in April after falling by 0.3 percent in March. Economists had expected industrial production to rise by 0.2 percent.

RTTNews | 5j 37min yang lalu

New York Manufacturing Index Edges Modestly Lower In May

A report released by the Federal Reserve Bank of New York said regional manufacturing activity continued to decline modestly in the month of May. The New York Fed said its general business conditions index edged down to a negative 9.2 in May from a negative 8.1 in April, with a negative reading indicating contraction. Economists had expected the index to dip to a negative 10.0.

RTTNews | 5j 49min yang lalu

EURUSD	1.11849	GBPUSD	1.3296	AUDUSD	0.63935
USDJPY	145.625	USDCAD	1.39552	USDCHF	0.83512

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European Shares May Struggle For Direction As US Goes To The Polls