European shares were at record highs on Friday after reports said U.S. President Joe Biden will seek $6trillion in federal spending plans for 2022. Biden is expected to unveil his first full budget later in the day.
Investors also wait for an update on the personal-consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, amid concerns that a higher-than-expected figure could force the U.S. Federal Reserve to tighten its monetary policy.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.