European Shares Likely To Drift Lower At Open

RTTNews | 80 dagar sedan

(RTTNews) - European stocks may open slightly lower on Wednesday after U.S. Treasury Secretary Scott Bessent downplayed the possibility of a quick agreement with the European Union, saying the bloc suffers from a "collective action problem" that's hampering trade negotiations.

Meanwhile, the U.S. has slashed the "de minimis" tariff on low-value China shipments to 54 percent from 120 percent, marking another trade de-escalation. China has reportedly lifted its ban on Boeing (BA) plane deliveries.

Elsewhere, U.S. President Donald Trump has pledged to lift all sanctions against Syria after announcing a $142bn (£107bn) arms deal with Saudi Arabia.

Asian stocks were mixed, with Hong Kong's tech-heavy Hang Seng and South Korea's Kospi average both rising over 1 percent while a stronger yen weighed on exporters in Japan.

The dollar struggled for direction after a significant overnight decline.

Gold fell below $3230 per ounce after rising in the previous session. Oil dipped but held near two-week highs on trade war reprieve.

In economic releases, final inflation data from Germany and Spain are due later in the session.

U.S. stocks ended mostly higher overnight as trade optimism prevailed and data showed consumer inflation rose less than expected in April.

The U.S. CPI edged up by 0.2 percent in April, bringing the annual increase down to 2.3 percent from 2.4 percent.

The tech-heavy Nasdaq Composite jumped 1.6 percent and the S&P 500 added 0.7 percent to reach their best closing levels in well over two months as Saudi Arabia announced AI development deals with four leading U.S. technology firms, including chip companies NVIDIA and AMD. The narrower Dow shed 0.6 percent.

European stocks closed higher on Tuesday, with sentiment lifted by buoyant German investor sentiment report, the soft U.S. inflation reading and a truce in the Sino-U.S. trade spat.

The pan European STOXX 600 edged up by 0.1 percent, extending gains for a fourth day running.

The German DAX and France's CAC 40 both rose by 0.3 percent while the U.K.'s FTSE 100 finished marginally lower.

U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.

RTTNews | 20h 22minuter sedan

European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment

European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.

RTTNews | 23h 42minuter sedan

Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries

The Canadian market got off to a weak start Friday morning and slipped deeper into the red subsequently, as U.S. President Donald Trump's sweeping tariff announcement rendered the mood bearish.

RTTNews | 1 dag sedan

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 dag sedan

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 dag sedan

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 dag sedan

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 dag sedan

U.S. Job Growth Misses Estimates In July, Previous Months' Numbers Revised Sharply Lower

Job growth in the U.S. fell well short of economist estimates in the month of July, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment rose by 73,000 jobs in July, while economists had expected employment to jump by 110,000 jobs.

RTTNews | 1 dag sedan

EURUSD	1.15956	GBPUSD	1.32834	AUDUSD	0.64735
USDJPY	147.381	USDCAD	1.37779	USDCHF	0.8035

Advertisement

European Shares Likely To Drift Lower At Open