European Shares Poised For Lower Opening Amid China Concerns

RTTNews | 932 hari yang lalu

(RTTNews) - European stocks are seen opening on a tepid note Monday, as investors fret about weakening demand in China and repeated rate hikes by the Federal Reserve to cool inflation.

Asian markets traded mostly lower after three people died in Beijing over the weekend and the country logged a record jump in daily cases, despite a stringent zero-COVID policy.

Authorities locked down part of the manufacturing hub of Guangzhou for five days and urged residents of the sprawling Chaoyang district to remain at home today.

Concerns over China as well as a potential nuclear crisis in the Russia-Ukraine conflict amid heavy shelling of Ukraine's Zaporizhzhia nuclear power plant helped spur safe-haven demand for the U.S. dollar.

China's yuan touched a 10-year low as the People's Bank of China kept its benchmark lending rates unchanged for the third straight month.

Oil extended steep losses from last week and gold prices fell further as the dollar gathered strength.

U.S. stocks struggled for direction before finishing higher on Friday but posted weekly losses, as weak data on home sales and leading economic indicators failed to ease investor worries about the Federal Reserve's path of monetary tightening.

The Dow gained 0.6 percent and the S&P 500 rose half a percent, snapping two days of losses reflecting a positive reaction to upbeat earnings news. The tech-heavy Nasdaq Composite ended largely unchanged.

European markets closed higher on Friday despite some hawkish remarks from Fed officials and ECB President Christine Lagarde.

The pan European STOXX 600 jumped 1.2 percent. The German DAX advanced 1.2 percent, France's CAC 40 gained 1 percent and the U.K.'s FTSE 100 edged up half a percent.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 16 minit yang lalu

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 21 minit yang lalu

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 1j 2min yang lalu

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 2j 27min yang lalu

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 2j 43min yang lalu

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 3j 50min yang lalu

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 4j 27min yang lalu

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 7j 21min yang lalu

EURUSD	1.14222	GBPUSD	1.3499	AUDUSD	0.65216
USDJPY	144.884	USDCAD	1.36754	USDCHF	0.82281

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European Shares Poised For Lower Opening Amid China Concerns