European Shares Seen Tad Higher As Israel, Hamas Agree To Four-day Ceasefire

RTTNews | 619 days ago
European Shares Seen Tad Higher As Israel, Hamas Agree To Four-day Ceasefire

(RTTNews) - European stocks look set to open on a positive note Wednesday on signs of easing Middle East tensions after Israel and Hamas announced a ceasefire, during which at least 50 Israeli and foreign hostages are due to be released.

Also, for every 10 additional hostages released, an extra day of truce will be observed.

Technology stocks could be in focus today after Nvidia, the world's most valuable chipmaker, posted another quarter of impressive growth but warned export restrictions on China would weigh significantly on its fiscal fourth quarter results.

Asian markets struggled for direction in cautious trade due to the modestly hawkish tone of FOMC minutes.

Chinese stocks were declining after game-streaming company DouYu International Holdings has come under scrutiny for allegedly holding online gambling.

The dollar stemmed recent declines ahead of reports on durable goods orders and weekly jobless claims due later in the day.

Gold traded firm below the key $2,000 per ounce level while oil prices were little changed after industry data pointed to a substantial build in U.S. crude stocks in the week ended Nov. 17. Treasuries steadied after climbing Tuesday.

U.S. stocks ended slightly lower overnight as retail earnings disappointed and minutes from the Fed's last rate-setting meeting showed officials expect to keep interest rates at a restrictive level for "sometime" and raise interest rates if progress in controlling inflation faltered.

The tech-heavy Nasdaq Composite shed 0.6 percent to snap a five-session winning streak, while the S&P 500 and the Dow eased around 0.2 percent each.

European stocks fell slightly on Tuesday as hawkish comments from Bank of England Governor Andrew Bailey and ECB President Christine Lagarde dented rate cut hopes.

The pan European STOXX 600 ended flat with a negative bias. The German index ended marginally lower while France's CAC 40 and the U.K.'s FTSE 100 both fell around 0.2 percent.

read more
U.S. Construction Spending Unexpectedly Sees Further Downside In June

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.
RTTNews | 1 day ago
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.
RTTNews | 1 day ago
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.
RTTNews | 1 day ago
Eurozone Inflation Steady At 2% ECB Target

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.
RTTNews | 1 day ago