European Shares Seen Up As US Debt Ceiling Bill Goes For Vote
(RTTNews) - European stocks are seen opening broadly higher on Tuesday as the U.S. debt ceiling deal readies for vote.
Later today, the House Rules Committee is scheduled to consider the package and vote on sending it to the full House for a vote expected Wednesday.
U.S. President Joe Biden and House Speaker Kevin McCarthy expressed confidence on Monday that the debt-ceiling deal will pass Congress.
Asian stocks traded mixed, with Chinese and Hong Kong markets retreating, on concerns about China's sluggish recovery and fears of a possible "second wave" of COVID-19 cases in the country.
U.S. stock futures were seeing modest gains, the dollar traded firm and gold hovered near two-month lows on hawkish Fed bets, with focus shifting to manufacturing readings, the U.S. nonfarm payrolls data due later in the week and the upcoming Fed policy meeting in June.
Oil prices traded lower in Asian trading following conflicting messages from Russia and Saudi Arabia ahead of the OPEC+ policy meeting.
The European economic calendar remans light today, with economic confidence and monetary aggregates from the euro area due out later in the session.
European stocks closed lower on Monday as worries about inflation and further interest rate hikes offset news that the U.S. had reached a debt ceiling deal over the weekend.
The pan European STOXX 600 slipped 0.1 percent, The German DAX and France's CAC 40 both fell around 0.2 percent while the U.K. markets were closed for a bank holiday.
U.S. markets were closed on Monday for Memorial Day holiday.
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