logo
  

European Shares Likely To See Mixed Opening

stockmarkets jan07 27jul21 lt

European stocks are seen opening narrowly mixed on Tuesday as investors brace for the Fed meeting outcome.

The Fed report Wednesday might offer clues on when U.S. stimulus might start winding down as the inflation crisis rages.

Fed Chair Jerome Powell may reiterate that the tapering discussion is underway, but that it's too soon to reveal a specific date.

Asian markets were trading mixed as investors keep a close eye on vaccination rates, Beijing's sweeping regulatory overhaul and rising tensions between the U.K. and China.

U.S. corporate earnings also remain on investors' minds, with Google's parent Alphabet, Apple and Microsoft due to report their earnings later today.

Trading later in the session may also be impacted by reaction to reports on durable goods orders and consumer confidence, while second-quarter GDP figures will be out on Thursday.

Treasuries were steady and the U.S. dollar hovered below recent peaks, while oil edged up amid bets that tight supply and rising vaccination rates will help offset any negative impact on demand due to surging COVID-19 cases worldwide.

Bitcoin pared gains to hold below $37,000 after briefly topping $40,000 on speculation that Amazon may soon start accepting payments in cryptocurrencies.

The British pound strengthened after the U.K. recorded its lowest daily total of new COVID-19 cases since Jul. 4 on Monday.

U.S. stocks hit fresh record closing highs overnight as upbeat earnings news along with continued optimism about the economy offset lingering concerns about the spread of new coronavirus variants.

The Dow and the S&P 500 edged up around 0.2 percent each, while the tech-heavy Nasdaq Composite index inched up marginally.

European stocks ended mostly lower on Monday after a government crackdown pushed China stocks to their worst day in a year and a survey showed German business confidence weakened unexpectedly in July.

The pan European Stoxx 600 closed flat with a negative bias. The German DAX dropped 0.3 percent and the U.K.'s FTSE 100 finished marginally lower while France's CAC 40 index edged up 0.2 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT