European markets open slightly higher as attention shifts to U.S. data

ABONE OL
10 Temmuz 2024 14:01
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The Stoxx 600 index was 0.17 percent higher in early deals, as most sectors moved into the green. Travel topped gains, up 0.6 percent, as mining stocks slipped 0.3 percent.

European stocks closed lower on Tuesday as investors in the region weighed up political uncertainty in France after Sunday’s election result in which the left-wing New Popular Front (NFP) won the largest number of seats but failed to win an absolute majority. The NFP is demanding that President Emmanuel Macron allow it to form a government, and to pick one of its candidates as France’s next prime minister.

France’s CAC 40 index closed 1.81 percent lower Tuesday as traders assessed the implications of a hung parliament and a period of political uncertainty in France. The index opened 0.1 percent higher Wednesday.

Asia-Pacific markets were mixed overnight, even as key Wall Street benchmarks rose following dovish comments from U.S. Federal Reserve Chairman Jerome Powell Tuesday. Powell cautioned that keeping rates elevated for too long “could unduly weaken economic activity and employment.”

On Thursday, the monthly U.S. consumer price index will be released, followed by the producer price index on Friday. Both prints and whether they surprise to the upside or downside will be key gauges of the interest rate outlook.

U.S. stock futures were little changed in overnight trading Tuesday after the S&P 500 notched a fresh record close.
 

Albania News Agency

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