European Economic News Preview: France Industrial Output Data Due
(RTTNews) - Industrial production from France and unemployment from Spain are the only important economic data due on Friday.
At 2.45 am ET, France's statistical office Insee publishes industrial output for April. Production is expected to grow 0.3 percent on month, in contrast to the 1.1 percent decrease in March.
At 3.00 am ET, Spain's unemployment data is due. Economists forecast unemployment to fall 40,100 in May following a decrease of 73,900 in April.
In the meantime, final GDP data is due from Austria. The preliminary estimate showed that the economy shrank 0.3 percent sequentially after remaining flat a quarter ago.
At 4.00 am ET, unemployment data is due from Norway.
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Sensex, Nifty Listless In Early Trade
Indian shares struggled for direction on Friday as strong U.S. economic data released overnight led traders to push back the timing for the first full quarter-point Federal Reserve interest-rate cut to December from November earlier.
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Asian Markets A Sea Of Red
Asian stock markets are a sea red on Friday, following the broadly sell-off on Wall Street overnight, after the recent release of stronger-than-expected US economic data and the slightly hawkish Fed minutes renewed concerns the US Fed will keep interest rates higher for longer than previously thought. The escalation in tensions between Taiwan and China is also weighing on the markets.
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Sensex, Nifty Set For Muted Open As US Rate-cut Odds Dwindle
Indian shares are seen opening on a muted note Friday as U.S. interest-rate worries persist.
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Japanese Market Sharply Lower
Reversing the gains in the previous session, the Japanese stock market is sharply lower on Friday, following the broadly negative cues from Wall Street overnight. The benchmark Nikkei 225 is falling well below the 38,700 level, with weakness across most sectors led by index heavyweights and technology stocks.
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Australian Market Significantly Lower
Extending the losses in the previous three sessions, the Australian stock market is significantly lower on Friday, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,700 level, with losses across most sectors led by mining and energy stocks amid tumbling commodity prices, and technology stocks.
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Lower Open Called For Thai Stock Market
The Thai stock market has moved lower in three straight sessions, slipping almost 15 points or 1.1 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,370-point plateau and it's expected to in the red again on Friday.
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Hong Kong Shares Tipped To Open Under Pressure
The Hong Kong stock market has moved lower in three straight sessions, tumbling more than 770 points or 4.1 percent along the way. The Hang Seng Index now sits just beneath the 18,870-point plateau and it's looking at another soft start again on Friday.
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China Shares May Extend Thursday's Losses
The China stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had climbed more than 50 points or 1.8 percent. The Shanghai Composite Index now sits just above the 3,115-point plateau and it may take further damage on Friday.
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