European stocks could open with strong notes

Investors commented on the FRB’s potential reductions in stimulus measures and news reports suggesting that US President Joe Biden will amend the US investment ban on Chinese military-related companies this week. European stocks could rise on Thursday because they ignored it.

Philadelphia Fed Governor Patrick Harker said it was appropriate to “slowly and cautiously retreat” asset purchases at the right time and avoid all sorts of “tapered tant tantants.”

Asian market Crude oil prices rose on day three following expectations of a surge in fuel demand later this year, while 10-year Treasury yields fell below 1.60%.

The dollar remained strong and gold remained near its five-month high as investors sought further clues about economic recovery and interest rate outlook ahead of Friday’s US employment data.

Economists predict that the report shows a surge in employment of 664,000 in May after an increase in employment of 266,000 in April. The unemployment rate is expected to drop from 6.1% to 5.9%.

ADP’s private sector employment report, along with its initial unemployment insurance claims and reports on services sector activity, could draw attention later today.

The findings of compound buyers from the euro area will be scheduled for the second half of the session and will be the headline for a bright day in European economic news.

All major US averages are all as the Federal Reserve Board (FRB) Beige Book shows that economic growth increased at a “moderate pace” from early April to late May as inflation concerns persisted. It rose about 0.1% overnight.

European stocks closed slightly higher on Wednesday after a slight downturn in most of the session of the day.

The Pan-European Stoxx 600 rose 0.3%. Germany’s DAX rose only 0.2%, France’s CAC 40 index rose 0.5%, and the UK’s FTSE 100 rose 0.4%.

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European stocks could open with strong notes

Source link European stocks could open with strong notes

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