European Shares Seen Tad Lower Ahead Of US Inflation Data, Bank Earnings

RTTNews | 955天前
European Shares Seen Tad Lower Ahead Of US Inflation Data, Bank Earnings

(RTTNews) - European stocks are likely to open on a cautious note Thursday as investors await the all-important U.S. consumer inflation report and earnings from the biggest U.S. banks for directional cues.

Today's CPI print for September may influence the Fed's path forward on rates. Major U.S. banks like JPMorgan Chase, Citigroup, Wells Fargo and Morgan Stanley are due to unveil their financial results on Friday.

Asian markets were mostly lower as investors weighed the risks of a global recession amid hawkish Fed rhetoric, escalating geopolitical tensions, China's continuing COVID-19 restrictions and a renewed sell-off in U.K. government bonds.

As Europe scrambles to secure its energy infrastructure, Russian Vladimir Putin offered to redirect natural-gas supplies to Europe via Turkey, thereby making Turkey "the largest gas hub for Europe."

In another development, G7 leaders have warned of 'severe consequences' if Russia uses nuclear weapons on Ukraine.

The dollar struggled for momentum despite U.S. Treasury Secretary Janet Yellen giving a nod of approval to the dollar rally, saying that U.S. policymakers are not concerned with the strong dollar right now.

Gold moved in a tight range and the British pound held onto its overnight gains, while oil prices were flat to slightly higher following three sessions of losses.

Destatis is scheduled to issue Germany's final consumer and harmonized price data for September later in the day.

Consumer price inflation hit a new record 10.0 percent in September versus 7.9 percent in August. The statistical office is set to confirm the preliminary estimate published on September 29.

Overnight, U.S. stocks reversed course to end lower as producer prices rose more than expected in September and the latest Fed meeting minutes reiterated the central bank's resolve in dampening inflation, with the summary of economic projections pointing to a terminal rate of around 4.6 percent.

The S&P 500 eased 0.3 percent to notch its sixth consecutive loss, while the Dow and the tech-heavy Nasdaq Composite both finished marginally lower.

European stocks extended their losing streak for the sixth straight session on Wednesday amid concerns over slowing global growth, rising interest rates and escalating geopolitical tensions.

The pan European Stoxx 600 dropped half a percent. The German DAX shed 0.4 percent, France's CAC 40 index slipped 0.3 percent and the U.K.'s FTSE 100 declined 0.9 percent.

read more
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | 1天前
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | 1天前
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | 1天前
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | 2天前
U.S. New Home Sales Spike From Downwardly Revised Level In April

U.S. New Home Sales Spike From Downwardly Revised Level In April

The Commerce Department released a report on Friday showing new home sales in the U.S. in the month of April spiked compared to a significantly downwardly revised level in March. The report said new home sales soared by 10.9 percent to an annual rate of 743,000 in April after jumping by 2.6 percent to a downwardly revised rate of 670,000 in March.
RTTNews | 2天前
Germany Logs Stronger Growth On Tariff Threats

Germany Logs Stronger Growth On Tariff Threats

The German economy grew at a stronger-than-estimated pace in the first quarter as higher tariff threats by the U.S. administration led to the frontloading of orders for the country's goods, lifting exports and industrial production. Gross domestic product grew 0.4 percent, which was double the initial estimate of 0.2 percent, a detailed report from Destatis revealed on Friday.
RTTNews | 2天前
Bay Street Likely To Open On Negative Note On Tariff Concerns

Bay Street Likely To Open On Negative Note On Tariff Concerns

Canadian shares look headed for a weak start Friday morning as tariff concerns resurfaced after U.S. President Donald Trump threatened 50% tariffs on EU goods from June 1. Weak oil prices could hurt energy stocks and add to market's downside.
RTTNews | 2天前
FTSE Pares Early Gains, Up Marginally In Cautious Trade

FTSE Pares Early Gains, Up Marginally In Cautious Trade

U.K. stocks moved higher Friday morning, reacting to data showing a notable rise in retail sales, and survey showing strong consumer confidence. However, stocks pared gains subsequently in cautious trade and the market was up just marginally a little past noon.
RTTNews | 2天前