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.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.