European stocks opened cautiously higher on Wednesday, buoyed by stronger-than-expected UK GDP figures and key earnings reports from major industrial firms such as Siemens. The FTSE 100 edged up after data showed Britain’s economy grew 0.7% in Q1, beating forecasts and easing recession fears. Other continental indices were mixed as investors digested corporate earnings and lingering concerns over global demand.
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Asian markets slipped after a strong run earlier this week, with Japan’s Nikkei 225 falling over 1%. The retreat came as investors booked profits ahead of key US inflation data and amid growing uncertainty over global trade tensions. Mainland China markets also fell, while Hong Kong’s Hang Seng remained under pressure from weak tech sentiment.
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US markets are poised for a cautious open later today, with S&P 500 and Nasdaq futures pointing slightly higher. Investors await April’s CPI inflation report, which is expected to show continued price pressures. The data could heavily influence the Federal Reserve’s next move on interest rates. Trade tensions between the US, Canada, and Mexico also continue to weigh on market confidence.
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Overall, sentiment across global markets remains fragile, with inflation data from the US likely to set the tone for the remainder of the week.
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