Business

European stocks set for a steady start after China data

European stocks rose slightly from flat on Wednesday after data showed an unexpected increase in China’s exports in September, despite the nationwide power crisis forced factory production cuts. ing.

Exports increased 28.1% annually, setting a new monthly record, but import growth slowed to 17.6%, with a trade surplus of $ 66.8 billion.

Asian market Transactions were mixed as investors continued to monitor the China Evergrande Group’s debt problems.

The dollar is with major peers as investors wait for reports of rising consumer prices and the minutes of the latest Federal Reserve meeting for clues as to when the Federal Reserve will taper off stimulus and raise interest rates. In comparison, it fell from the highest price in a year.

Three Fed officials, including Vice-Chairman Richard Clarida, said the United States overnight Economy It has recovered enough to start shrinking the central bank’s asset purchase program.

Gold remained largely unchanged and oil was held above $ 80 a barrel after four days of advance, while Bitcoin held back its recent rise and traded at around $ 56,300.

US earnings news will be focused late today, with financial giant JPMorgan Chase planning to report third-quarter results before the opening bell.

Bank of America, Citigroup, Morgan Stanley, Wells Fargo and Goldman Sachs will report quarterly results in the coming days.

US stocks fell in three consecutive sessions overnight as investors waited to see how companies were dealing with rising prices.

The IMF’s downward revision of its global economic growth forecast and the expectation that the Fed could start curtailing asset purchases as early as next month also weighed on the market.

The Dow fell 0.3 percent, the tech-heavy composite fell 0.1 percent, and the S & P 500 fell 0.2 percent.

Tuesday’s session ended with modest notes on European equities amid rising inflationary concerns, pressure on quarterly earnings and debt problems for Chinese real estate giant Evergrande.

The Pan-European STOXX 600 ended flat with a negative bias. Both the German DAX and the French CAC 40 index fell 0.3%, while the UK FTSE 100 fell 0.2%.

Contact for comments and feedback: editorial@rttnews.com

Market analysis



European stocks set for a steady start after China data

Source link European stocks set for a steady start after China data

Back to top button