European Shares Set To Open Lower On Hawkish Fed Remarks
(RTTNews) - European stocks are likely to open lower on Tuesday as investors digest hawkish comments from Federal Reserve officials and look toward the release of U.S. consumer price inflation data on Thursday for more clarity on rate hikes.
Asian markets traded mostly lower amid concerns about the U.S. and Europe slipping into recession this year.
The downside remained capped somewhat after reports suggested that many parts of China are already past their peak of COVID-19 infections.
Gold held steady as the U.S. dollar languished near a seven-month low against other major currencies. Oil prices slipped after three consecutive sessions of gains.
U.S. stocks gave up early gains to end mixed overnight as presidents of the U.S central bank's San Francisco and Atlanta branches said the Fed will have to keep raising rates to somewhere above 5 percent in order to slow down inflation.
The Dow slipped 0.3 percent and the S&P 500 finished marginally lower while the tech-heavy Nasdaq Composite rose 0.6 percent as Treasury yields fell across the board.
European shares hit their highest level since May 2022 on Monday, with sentiment boosted by optimism surrounding China's reopening and positive readings on German industrial output and Eurozone investor confidence.
The pan-European STOXX 600 gained 0.9 percent. The German DAX rallied 1.3 percent, France's CAC 40 index added 0.7 percent and the U.K.'s FTSE 100 rose 0.3 percent.
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