|Day's Range||12,049.76 - 12,136.65|
|52 Week Range||10,279.20 - 12,982.92|
Economic data is on the lighter side going into the weekend. U.S retail sales could spoil the party, as the futures point to a positive open.
Two ships reported being hit by missiles or explosives, while U.S. Navy vessels were sent in support, as tensions in the busy crude traffic lane intensify. U.S. stock futures traded higher Thursday, supported by an overnight surge in oil prices following attacks on ships in the Strait of Hormuz, even as global investors continue to favor defensive assets in the face of slowing economic growth and an uncertain path in U.S.-China trade talks.
World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while a barely visible rise in U.S. inflation kept up talk of an early cut in interest rates there. Europe's main markets and Wall Street futures both followed Asia lower.
World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on U.S. inflation was set to refine the odds of an early cut in interest rates there. FX dealers kept the dollar near an 11-week low as they waited to see whether the U.S. inflation numbers would bolster their bets on the first U.S. rate cuts since the financial crisis.
World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on U.S. inflation was set to refine the odds of an early cut in interest rates there. FX dealers kept the dollar near an 11-week low before the U.S. data, having priced in the first U.S. rate cuts since the financial crisis.
It’s looking a bit bearish for the day ahead. Trade war tension continues to linger, which could test investor resilience on the day.
Global stocks extend gains on hopes of central bank support, helping U.S. equity futures trade higher into the opening bell. European stocks gain as German markets return from Monday holiday and take car stocks higher following President Trump's Mexico tariff suspension. Global oil prices edge higher as the dollar weakens and OPEC reportedly readies an extension of its production cuts.
World shares rallied on Tuesday to hold near one-month highs, with German carmakers outperforming and Wall Street looking to extend gains after the United States stepped back from imposing tariffs on Mexico. The pan-European STOXX 600 climbed 0.8%, on course for a sixth day of gains in the last seven.
European shares gained ground on Tuesday, with Germany's carmakers outperforming, as risk appetite held firm after the United States stepped back from imposing tariffs on Mexico. There, BMW, Daimler and VW - seen as sensitive to trade tariffs - all gained between 1.8%-2%, mirroring a 1.9% gain for the auto sector. Investors have breathed easier this week after the United States and Mexico reached a deal on Friday to avert tariffs threatened by U.S. President Donald Trump if steps were not taken to curb the flow of mostly Central American migrants.
With Germany on holiday today, it will be down to the CAC40 to follow the Asian majors into positive territory later this morning.
It’s a busy day ahead. While any chatter on trade will move the majors, Draghi and economic data out of Germany are also there to consider.
The European majors found support from FED Chair Powell and the willingness of China to return to the negotiating table. The day ahead could get choppy.
Stocks marched sharply higher on Wall Street in afternoon trading Tuesday after the head of the Federal Reserve signaled that the central bank is prepared to cut interest rates to sustain U.S. economic growth. Fresh optimism about the possibility that the U.S. and Mexico will swiftly reach a trade deal also helped lift the market. Technology stocks led the broad rally, which sent the Dow Jones Industrial Average more than 450 points higher and had the S&P 500 on track for its best day since early January.
U.S. stock futures and commodity prices slipped while bonds rallied on Monday on worries an intensifying Sino-U.S. trade tussle and Washington's new tariff threats against Mexico could tip the global economy into a recession. The E-mini futures for S&P500 dropped 0.5% in Asian trade to 2,738, near their March low of 2,722 while Japan's Nikkei skidded 1.1% to a four-month low. European shares are expected to follow suit, with futures for Britain's FTSE and Germany's DAX down 0.5% and 0.8%, respectively.
President Trump is in the midst of his three day state visit to the United Kingdom, meeting with Prime Minister Theresa May earlier to discuss a possible trade deal between the U.S. and the U.K. Panmure Gordon Chief Economist Simon French joins Yahoo Finance's Adam Shapiro, Julie Hyman, Sibile Marcellus, and Bruderman Asset Management Chief Market Strategist Oliver Pursche over the phone to discuss.