|Day's Range||11,432.68 - 11,623.97|
|52 Week Range||10,279.20 - 13,204.31|
IHS Markit's flash euro zone composite PMI fell to 51.3 in March from 51.9 the previous month — analysts were expecting a reading of 52. The disappointing economic data added to market jitters over the Federal Reserve's subdued outlook. Brexit was another area of focus, as the EU agreed to an extension to the date of the U.K.'s withdrawal from the bloc.
It’s a big day for the markets. Private sector PMI numbers out of Europe and the U.S will give some guidance on where the economy is heading.
Despite the prevalent risk on investor sentiment in the global market on dovish Fed update, investors await updates from key European events today resulting in cautious European investor sentiment which is likely to result in range bound price action.
A 2019 pause on interest rate hikes by the FED may not be enough should U.S – China trade talks lack progress. It could be a telling end to the week.
The pan-European Stoxx 600 was down around 0.1 percent during mid-morning deals, with most sectors and major bourses in negative territory. The Bank of England (BOE) is due to announce its latest interest rate decision at midday. British Prime Minister Theresa May told the public on Wednesday that she is "on their side" amid Brexit negotiations, laying the blame for the country's delayed exit squarely with Parliament.
Strategists are starting to cast doubt on the powerful new-year rally in European equities. The Stoxx Europe 600 Index is expected to lose 6 percent from Wednesday’s closing levels to 358 points by the end of 2019, according to the average projection in the latest Bloomberg poll. The Euro Stoxx 50 Index, home of the euro-area’s biggest companies, is seen declining 4 percent from current levels to 3,238, according to the average survey estimate.
European shares retreated from near six-month highs on Wednesday, with German stocks leading losses as chemicals producer Bayer and carmaker BMW tumbled, and as the European Union resisted British Prime Minister Theresa May's plea to delay Brexit. The pan-European STOXX 600 index fell 0.9 percent as investors booked profits after five sessions of gains, with Bayer's near 10 percent slump weighing the most.
DAX to trade dovish on increased caution owing to headlines driven momentum and dovish cues from international market.
With eyes fixed on a U.S. Federal Reserve statement and news conference later in the day, the pan-European STOXX 600 index fell 0.4 percent as investors booked profits after five sessions of gains. Germany's DAX lost more than 1 percent with Bayer down 12 percent after a San Francisco jury became the second to rule against Roundup, eight months after a $289 million award to claimants in a similar case. Bayer acquired Monsanto, the longtime maker of Roundup, for $63 billion last year.
Global stocks weaker ahead of today's Fed rate decision, with sentiment clouded by reports of tension in U.S.-China trade talks and a profit warning from Federal Express. Global oil prices were little-changed, with support coming from API data showing a surprise 2.15 million drawdown in domestic crude stocks and yesterday's move from OPEC to scrap its April meeting, raising the prospect of extending production cuts into the second half of the year. Dow futures suggest a modest opening gain slip ahead of the Fed rate decision at 2:00 pm Eastern Time and Chairman Jerome Powell's press conference 30 minutes later.
TOKYO/HONG KONG, March 20 (Reuters) - Asian shares slid on Wednesday as investors took profits ahead of a policy decision by the U.S. Federal Reserve which is expected to shed more light on its interest rate plans for the rest of the year. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent, weighed down by Australia and South Korea. Japan's Nikkei climbed 0.2 percent while mainland Chinese blue-chip shares were flat.
The pan-European Stoxx 600 was down around 0.4 percent during mid-morning trade, with most sectors and major bourses in negative territory. Inmarsat surged to the top of the index after the satellite operator announced it had opened talks about a $3.3 billion cash takeover approach from a private equity-led consortium. Shares of the London-listed stock rose over 17 percent.
The STOXX 600 autos & suppliers sector index jumped 2.4 percent to post their biggest one-day gain in more than three months, helping the benchmark STOXX 600 climb 0.6 percent and scale a near six-month peak. The rally was also spurred by investor anticipation of a more accommodative Federal Reserve, as well as some likely short covering as fund managers named bearish bets in European equities as the "most crowded" trade for the first time. Madden said the Fed was likely to maintain its data driven policy approach.
European shares opened flat to marginally higher on Tuesday, as investors made cautious moves ahead of a U.S. Federal Reserve meeting while British Prime Minister Theresa May's third attempt to get a Brexit deal through parliament was blocked for now. The pan-European STOXX 600 index rose 0.1 percent by 0806 GMT after four sessions of solid gains, while Germany's DAX index was less than 0.05 percent higher and London's FTSE dipped 0.1 percent. The Fed's two-day meeting starts on Tuesday, with financial markets expecting the U.S. central bank to reinforce a dovish approach to any further rises in interest rates.
The pan-European Stoxx 600 was up around 0.7 percent during mid-morning deals, with most sectors and major bourses in positive territory. Market focus is largely attuned to central bank expectations, with the Fed due to kick-off its two-day policy meeting later in the session. May only has two days to secure approval for her deal to leave the European Union if she wants to meet with the bloc's leaders on Thursday with something to offer them in exchange for more time.
DAX index likely to trade range bound on mixed cues influenced by headlines which has inspired cautious investor sentiment.
Wall Street braces for the Fed. Can the Fed juice the rally? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.
Dan Kemp, chief investment officer for EMEA at Morningstar, says developed markets are offering better value for investors than emerging markets.