European Shares Poised For Mixed Open

RTTNews | 189 दिनों पहले
European Shares Poised For Mixed Open

(RTTNews) - European stocks may open on a mixed note Monday, with potential upside likely to remain capped ahead of key U.S. inflation data and Fed Chair Jerome Powell's speech due this week.

U.S. producer price inflation data for April is due on Tuesday, while the more closely watched consumer price inflation figures will be published on Wednesday.

Fed Chair Jerome Powell is scheduled to speak on Monday and Wednesday following recent hawkish comments from several Fed officials.

Chicago Fed President Austan Goolsbee and Minneapolis Fed President Neel Kashkari said on Friday that interest rates are likely to remain at elevated levels until there is clear sign that the rate of inflation is slowing.

Fed Bank of Dallas President Lorie Logan said it's still too early to think about lowering borrowing costs.

Governor Michelle Bowman said she doesn't expect it will be appropriate for the Fed to cut rates in 2024.

Preliminary private sector PMIs from the euro zone, final reports on European inflation, ECB President Lagarde's speeches on Monday and Tuesday along with BoE Governor Bailey's speech scheduled ahead of the Autumn budget on Wednesday may also draw plenty of interest in the week ahead.

Asian markets were seeing modest losses amid reports that the Biden administration is set to announce new China tariffs targeting strategic sectors in the coming days.

Chinese inflation data proved to be a mixed bag, with consumer price inflation rising for a third straight month in April, while producer price inflation continued to decline.

In another development, China's finance ministry said today that it will start the long-awaited sales of long-term treasury bonds to help stimulate key sectors.

The dollar rose against its major rivals, denting demand for bullion.

Oil extended declines on signs of weak fuel demand and ahead of an OPEC meeting on supply policy, with Iraq giving out mixed messages on its stance.

U.S. stocks ended mixed on Friday as investors awaited comments from Federal officials for more clarity on the monetary policy path following recent data pointing to a cooling U.S. labor market.

In economic releases, a measure of U.S. consumer sentiment dropped to a six-month low in May due to growing anxiety about inflation, unemployment and interest rates, a survey showed.

The survey's reading of one-year inflation expectations rose to 3.5 percent from 3.2 percent in April.

The Dow edged up 0.3 percent to extend gains for the eighth consecutive session, marking its longest daily winning run since December. The S&P 500 added 0.2 percent while the tech-heavy Nasdaq Composite finished marginally lower.

European stocks closed higher for a sixth day running on Friday after official data showed Britain exited a technical recession with stronger-than-expected growth in the first quarter of 2024 ahead of an election expected later this year.

The pan European STOXX 600 climbed 0.8 percent. The German DAX rose half a percent, France's CAC 40 gained 0.4 percent and the U.K.'s FTSE 100 inched up 0.6 percent.

read more
Spirit Airlines Files For Chapter 11 Bankruptcy Protection; Stock Drops

Spirit Airlines Files For Chapter 11 Bankruptcy Protection; Stock Drops

Spirit Airlines, Inc., amid struggles with mounting losses and debt, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York. The restructuring is expected to reduce Spirit's debt and provide increased financial flexibility. In an open letter to all Spirit Guests, the company called the process a proactive step to position it...
RTTNews | 5घंटे 7 मिनट पहले
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Canadian shares may open higher on Monday as energy and materials sectors are likely to attract buyers thanks to firm crude oil and metal prices. With Canadian inflation data due this week, and the Federal Reserve's upcoming policy moves remaining a bit uncertain, the mood is likely to remain somewhat cautious.
RTTNews | 6घंटे 13 मिनट पहले
CPI Uptick, Fed Hints Boost Dollar Again

CPI Uptick, Fed Hints Boost Dollar Again

The U.S. dollar rallied against major currencies during the week ended November 15 amidst an expected uptick in consumer price inflation in the U.S. as well as hints from Jerome Powell that the Fed was in no hurry to cut rates.
RTTNews | 6घंटे 15 मिनट पहले
Eurozone Trade Surplus Increases In September

Eurozone Trade Surplus Increases In September

The euro area trade surplus increased notably in September as exports to the United States surged ahead of the presidential election in November that saw Donald Trump winning the race. The trade surplus rose to EUR 12.5 billion in September from EUR 9.8 billion in the same period last year, data from Eurostat showed Monday.
RTTNews | 6घंटे 18 मिनट पहले
Nvidia's New Blackwell AI Chip Servers Reportedly Overheat

Nvidia's New Blackwell AI Chip Servers Reportedly Overheat

Nvidia Corp.'s new Blackwell AI chips are facing overheating issues that could delay new data centres, The Information reported citing customers, suppliers and employees working on the issue. In pre-market activity on the Nasdaq, the shares were losing around 2.5 percent. The news comes as the world's most valuable company by market capitalization is set to release its third-quarter earnings...
RTTNews | 6घंटे 26 मिनट पहले
Thai GDP Expands Most In 2 Years

Thai GDP Expands Most In 2 Years

The Thai economy grew at the fastest pace in two years in the third quarter on strong investment, exports and government spending, data from the Office of the National Economic and Social Development Council showed Monday. Gross domestic product climbed 3.0 percent on a yearly basis after rising revised 2.2 percent in the second quarter.
RTTNews | 8घंटे 45 मिनट पहले
Sensex, Nifty End Modestly Lower

Sensex, Nifty End Modestly Lower

Indian shares ended Monday's session modestly lower amid concerns over slowing earnings growth and a weakening rupee amidst continued foreign fund outflows.
RTTNews | 8घंटे 52 मिनट पहले