European Shares Seen Up As Weak US Data Revives Fed Easing Bets

RTTNews | Pred 480 dňami

(RTTNews) - European stocks are seen opening on a firm note Monday as weak U.S. data released on Friday fueled bets that the Federal Reserve could start cutting interest rates soon. The U.S. economic calendar for this week is relatively quiet, potentially shifting the spotlight to earnings news from several big-name companies.

Closer home, U.K.'s first quarter GDP numbers and Bank of England's policy meeting are likely to garner investor attention this week.

Asian stocks traded mostly higher, with markets in South Korea and Japan closed for holidays.

China's Shanghai Composite index rallied around 1 percent as trading resumed after an extended break for the Labour Day holiday.

The rebound came after the Politburo of the Communist Party announced the country would step up support for the economy with prudent monetary and proactive fiscal policies.

Meanwhile, the services sector in China continued to expand in April, although at a slower pace, the latest survey from Caixin revealed earlier today with a services PMI score of 52.5, down from 52.7 in March.

The yen weakened after a strong surge last week due to suspected currency intervention by Japanese authorities.

Oil and gold prices were seeing modest gains in Asian trade as hopes for a Gaza ceasefire appeared slim.

Israel intensified attacks on Rafah, killing at least 22 Palestinians after Hamas fired rockets at the Karem Abu Salem crossing, killing three Israeli soldiers.

U.S. stocks soared on Friday as Apple reported strong earnings results and a weaker-than-expected April jobs report along with an unexpected contraction in service sector activity in April boosted the case for rate cuts by the third quarter.

Data showed that non-farm payroll employment climbed by 175,000 jobs in April after surging by an upwardly revised 315,000 jobs in March. The jobless rate crept up to 3.9 percent from 3.8 percent in March.

The Dow climbed 1.2 percent, the tech-heavy Nasdaq Composite surged 2 percent and the S&P 500 rallied 1.3 percent.

European stocks closed higher on Friday, with a slew of strong earnings and rate-cut expectations helping underpin investor sentiment.

The pan European STOXX 600 gained half a percent. The German DAX rose 0.6 percent, while France's CAC 40 and the U.K.'s FTSE 100 both added about half a percent.

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

RTTNews | Pred 1 h 24 min

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | Pred 2 h 0 min

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | Pred 2 h 29 min

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | Pred 5 h 13 min

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | Pred 5 h 32 min

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | Pred 6 h 15 min

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | Pred 6 h 45 min

U.S. PCE Price Index Increased In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | Pred 6 h 57 min

EURUSD	1.16966	GBPUSD	1.35101	AUDUSD	0.65447
USDJPY	146.974	USDCAD	1.37312	USDCHF	0.8001