European Shares To Open On Soft Note As US Debt Concerns Mount

RTTNews | 19 dni temu

(RTTNews) - European stocks may open on a sluggish note Thursday as investors react to U.S. deficit concerns and budget debates.

U.S. President Donald Trump's One Big Beautiful Bill Act, which will transform taxes and other federal policies, is amplifying debt and deficit concerns and pushing 30-year Treasury yields to their highest level in 18 months.

Critics says the mega-bill pairing tax relief with spending cuts would decimate health care while ballooning the debt.

A House vote was scheduled for today, but members of the conservative House Freedom Caucus have demanded more changes, stalling the bill's progress.

Elsewhere, media reports suggest that G7 ministers are seeking to downplay disputes over U.S. tariffs and striving to issue a joint communique covering non-tariff issues to keep the forum viable.

Asian markets were broadly lower on concerns over the US's swelling debt and deficits. Japan's Nikkei was down more than 1 percent as the yen hit a new two-week high against a broadly weaker dollar.

In a rate and explicit statement, U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato agreed on Wednesday that the dollar-yen exchange rate currently reflects fundamentals.

Treasuries continued their slide ahead of U.S. reports on weekly jobless claims and existing home sales due later in the day.

Closer home, flash purchasing managers' survey results from the major euro area economies and business sentiment data from Germany and France are due later in the session.

Oil steadied after a decline as data showed a surprise inventory build. Gold extended gains for a fourth session, rising above $3,330 per ounce in Asian trade.

Overnight, Wall Street saw one of its most brutal selling sessions in over a month as a deteriorating U.S. fiscal outlook and poor response to the 20-year bond auction led to a spike in bond yields.

The thirty-year bond yield climbed above 5 percent due to concerns the new U.S. tax bill could worsen the country's deficit.

Downbeat news from companies such as UnitedHealth Group, Target and Wolfspeed also added to the selling pressure.

The Dow plunged 1.9 percent, the S&P 500 gave up 1.6 percent and the tech-heavy Nasdaq Composite tumbled 1.4 percent.

European stocks ended mixed on Wednesday as uncertainty prevailed in U.S.-Iran and Russia-Ukraine peace talks and data showed U.K. inflation surged to its highest level since January 2024 in April.

The pan European STOXX 600 finished marginally lower. The German DAX rose 0.4 percent and the U.K.'s FTSE100 edged up marginally while France's CAC 40 dipped 0.4 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 | 10 minut temu

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 | 16 minut temu

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 | 56 minut temu

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 | 2g 21 minut temu

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 | 2g 37 minut temu

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 | 3g 44 minut temu

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 | 4g 21 minut temu

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 | 7g 15 minut temu

EURUSD	1.14234	GBPUSD	1.34991	AUDUSD	0.65232
USDJPY	144.9	USDCAD	1.36761	USDCHF	0.82285

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European Shares To Open On Soft Note As US Debt Concerns Mount