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

RTTNews | 477 gün önce

(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.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

RTTNews | 18 dakika önce

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | 39 dakika önce

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | 1s 10 dakika önce

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1s 50 dakika önce

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 2s 17 dakika önce

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2s 20 dakika önce

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2s 35 dakika önce

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 2s 38 dakika önce

EURUSD	1.16273	GBPUSD	1.34543	AUDUSD	0.64747
USDJPY	147.717	USDCAD	1.38578	USDCHF	0.8055