European Shares Set To Follow Asian Peers Higher
(RTTNews) - European stocks look set to open on a positive note Friday as trading resumes after Christmas holidays.
As 2024 draws to a close, the focus is now on the Federal Reserve's interest rate decisions in 2025 and potential shifts in tariff policies from U.S. President-elect Donald Trump.
Asian stocks were mostly higher, with Japan's Nikkei rallying nearly 2 percent as the yen held near a five-month low amid the Bank of Japan's cautious stance on raising interest rates.
However, inflation in Tokyo accelerated for a second month in December, keeping rate hike prospects intact.
Elsewhere, China's industrial profits fell at a slower clip in November, offering some respite to investors worried about slowing economic growth.
In South Korea, stocks tumbled and the won dropped to its lowest level in 16 years as lawmakers prepare to vote on whether to impeach acting president, Prime Minister Han Duck-soo.
The U.S. dollar was steady in Asian trade while oil and prices struggled for direction amid a lack of major catalysts.
U.S. stocks ended mixed overnight as trading resumed following the Christmas holiday.
Retail sales came in above forecasts during a shorter holiday season while the number of jobless claims fell unexpectedly in the week ending Dec. 21, though continuing claims surged to a three-year high, separate set of data showed.
The Dow edged ended flat with a positive bias while the tech-heavy Nasdaq Composite and the S&P 500 both finished marginally lower.
Major European markets were closed on Thursday in observance of Boxing Day.
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