European Shares Likely To Open On Soft Note

RTTNews | 1 dag sedan
European Shares Likely To Open On Soft Note

(RTTNews) - European stocks are seen opening broadly lower on Monday as investors react to Trump-Elon Musk feud over the president's tax-and-spending plan and await the high-level U.S.-China trade talks.

After Elon Musk described the "One big beautiful bill" as a "disgusting abomination," U.S. President Donald Trump expressed "disappointment" in Musk and suggested their once great relationship could be over.

The tech billionaire wrote on X: "It's outrageous how much character assassination has been directed at me, especially by me!"

Elsewhere, trade negotiators from the United States and China are expected to reconvene in London today against the backdrop of increased friction that has built up over China's tight grip on the supply of critical minerals for the auto, tech, and defense sectors.

In economic releases, reports on U.S. consumer and producer price inflation and consumer sentiment are likely to be in focus this week after a stronger-than-expected jobs report cooled expectations of interest rate cuts from the Federal Reserve.

On the geopolitical front, U.S. officials said that Russia's threatened retaliation against Ukraine over its drone attack last weekend has not happened yet in earnest and is likely to be a significant, multi-pronged strike.

Asian markets traded mixed as new data showed China's consumer prices fell for a fourth consecutive month in May and producer prices clocked the steepest decline since July 2023, deepening deflation worries.

Separate set of data revealed that China's exports grew slower than expected in May, while imports declined from the last year due to weak domestic demand.

South Korea's Kospi surged 1.4 percent amid hopes on policy reforms after recent presidential election ushered in a new leadership.

Japan's Nikkei average rose about 1 percent as data showed the economy contracted less than initially feared in the first quarter.

The dollar held steady against its major rivals in Asian trade while gold was little changed after losing nearly 2 percent over the previous two sessions. Oil prices also held steady after rallying more than 4 percent last week.

U.S. stocks surged on Friday as a better-than-expected monthly jobs report following some recent downbeat data helped ease economic concerns and Tesla recovered part of the losses from a significant drop in the previous session.

Data showed non-farm payroll employment shot up by 139,000 jobs in May after a downwardly revised 147,000 jobs in April. The unemployment rate came in unchanged at 4.2 percent.

The tech-heavy Nasdaq Composite rallied 1.2 percent and the S&P 500 gained 1 percent to reach their best closing levels in over three months while the narrower Dow climbed 1.1 percent.

European stocks ended mostly higher on Friday as revised data showed the eurozone economy expanded at a much stronger rate than initially expected in the first quarter.

The pan European STOXX 600 rose 0.3 percent. The German DAX finished marginally lower, while France's CAC 40 rose 0.2 percent and the U.K.'s FTSE 100 added 0.3 percent.

read more
Malaysia Bourse Likely To Remain Rangebound

Malaysia Bourse Likely To Remain Rangebound

The Malaysia stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just above the 1,515-point plateau and it's expected to remain in that neighborhood again on Tuesday.
RTTNews | 14 minuter sedan
Japan Shares May See Continued Support On Wednesday

Japan Shares May See Continued Support On Wednesday

The Japan stock market has finished higher in three straight sessions, climbing more than 650 points or 1.9 percent along the way. The Nikkei 225 now sits just above the 38,210-point plateau and it may add to its winnings again on Wednesday.
RTTNews | 29 minuter sedan
KOSPI May Challenge Resistance At 2,900 Points

KOSPI May Challenge Resistance At 2,900 Points

The South Korea stock market has finished higher in five straight sessions, collecting more than 175 points or 6.4 percent along the way. The KOSPI now rests just above the 2,870-point plateau and it's tipped to open in the green again on Wednesday.
RTTNews | 44 minuter sedan
Japan Producer Price Data Due On Wednesday

Japan Producer Price Data Due On Wednesday

Japan will on Tuesday release May figures for producer prices, highlighting a light day for Asia-Pacific economic activity. In April, producer prices were up 0.2 percent on month and 4.0 percent on year.
RTTNews | 1h 44minuter sedan
Gold Dips As US-China Trade Talks Continue

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 | 3h 31minuter sedan
Crude Oil Prices Fade As US-China Talks Progress

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 | 3h 36minuter sedan
Canadian Dollar Appreciates Amid Risk Appetite

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 | 4h 17minuter sedan
Swiss Market Ends Marginally Down

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 | 5h 42minuter sedan