European Shares To Open On Subdued Note
European stocks may open lower on Thursday as trade fears lingered and positive economic data raised the chances of another U.S. rate hike in December.
Asian stocks fell broadly, as the dollar strength on the back higher U.S. yields piled pressure on emerging market currencies.
The dollar hit an 11-month high against the yen while oil prices fell from four-year highs reached the previous session after data showed a large build in U.S. commercial crude inventories last week and reports suggested that Russia and Saudi Arabia struck a private deal in September to raise crude output.
All eyes are now on the U.S. Labor Department’s monthly jobs report due Friday after overnight data suggested that the labor market continued to grow at a healthy pace in September.
Overnight, U.S. stocks eked out modest gains, with financials pacing the gainers as stronger than expected reports on private sector employment and services sector activity lifted 10-year U.S. Treasury yields to a seven-year high.
The Dow inched up 0.2 percent to hit a fresh record closing high, while the tech-heavy Nasdaq gained 0.3 percent and the S&P 500 finished marginally higher.
European markets also closed higher on Wednesday after reports the Italian government is planning to lower its deficit.
The pan-European Stoxx Europe 600 index advanced 0.50 percent. France’s CAC 40 index rose 0.4 percent and the U.K.’s FTSE 100 gained half a percent while the German markets were closed for a holiday.
Source: Read Full Article