European stock markets rise as German producer prices drop, China's rate cut disappoints, and the UK housing market slumps; oil prices rebound on tight supplies and expectations of lower output.
The markets were mixed today, with the Dow dropping while the Nasdaq rose slightly, and major indices are down over the past five trading sessions; however, year-to-date, the markets are still up and have retreated to valuations not seen since early July.
The euro fell and bond and share markets bounced back as weak European data caused investors to anticipate Nvidia's results and Powell's Jackson Hole speech.
Weak European data caused the euro to decline and led to a rise in bond and share markets, while investors awaited Nvidia's results to assess the viability of the tech sector's high valuations.
Stocks fell on Thursday as investors retreated ahead of the Federal Reserve's Jackson Hole symposium, with European stocks dropping and technology stocks giving up earlier gains, while Walt Disney shares tumbled, and Treasury yields increased on strong economic data and concerns about inflation.
European markets remain cautious as traders await signals from Federal Reserve officials on monetary policy, while the German economy stagnated in the second quarter with zero growth.
The dollar retreated from a 12-week high as Federal Reserve Chair Jerome Powell hinted at the possibility of further rate hikes, while the euro saw a slight increase after China reduced its stamp duty on stock trading.
European bonds and stocks fell as inflation data suggested that inflation in the euro region may not be fully subsiding, while utilities led the decline in the Stoxx Europe 600 and the German and Spanish inflation data complicated the outlook for European policy makers.
European stocks and Asian equities declined as disappointing data from China raised concerns about the country's economic recovery, with the Stoxx 600 dropping 0.7% and the MSCI Asia Pacific Index heading for its first drop in seven days.
European stocks continue to decline due to weak German data and elevated oil prices, raising concerns about stagflation in the euro area.
Stocks fell on Wall Street as concerns about inflation and weakening global demand weighed on investor sentiment, raising doubts about the Federal Reserve's plans to cut interest rates.
European stock markets weakened on Thursday due to signs of slowing growth in Europe and China, as well as concerns about future Federal Reserve tightening. German industrial production fell more than expected, adding to the struggles of the eurozone's largest economy. China's exports and imports also fell in August, indicating continued pressure on its manufacturing sector. Additionally, stronger-than-expected US inflation data raised concerns about sticky inflation. Oil prices fell as signs of slowing Chinese growth overshadowed a draw in US inventories.
European stock markets edged higher as investors digested positive French industrial production data, although major cash indices are on track to register losses for the week, and the pan-European benchmark index has experienced seven consecutive days of losses. French industrial production rebounded more than expected in July, while figures for Spain showed a smaller-than-expected decline. However, German industrial production fell more than expected in July, and economic growth in the eurozone for the second quarter was just 0.1%. Concerns about the strength of the Chinese and Japanese economies have also risen. The tech sector is under pressure due to Apple's difficulties in China, and oil prices have retreated but are still on course for gains this week.
China's property shares are declining and tech shares are underperforming, leading to a slide in the Asian market, while the European market waits for monetary policy decisions from the ECB and the Bank of England.
Tech stocks retreated as Oracle posted slowing cloud sales, while the euro and pound weakened due to concerns over stagflation in Europe. Smurfit Kappa Group plunged after announcing a deal with WestRock Co., and investor confidence in Germany's economy improved. US inflation data and the European Central Bank's interest-rate decision are upcoming events.
Global markets ended higher as energy stocks climbed supported by Saudi Arabia and Russia's decision to extend supply cuts, while Wall Street's key indexes saw weekly declines due to investor concerns over interest rates and anticipation of upcoming U.S. inflation data. In Asian markets, Japan's Nikkei 225 ended down, Australia's S&P/ASX 200 was up, and Chinese shares rose following improved data on consumer price inflation. The Eurozone's economic growth outlook has been downgraded by the European Commission, and crude oil prices fell.
European markets were stagnant as investors awaited a decision from the European Central Bank on whether to raise interest rates for the tenth consecutive meeting, while carmaker shares dropped following an investigation into electric vehicle subsidies by the European Commission and concerns over Chinese retaliation. Additionally, the oil market is keeping a close eye on the possibility of crude prices reaching $100 a barrel as Saudi Arabia and Russia plan to extend production cuts until the end of 2023.
Stock markets pause as traders await next week's Federal Reserve interest rate decision and keep an eye on economic data and the impact of the partial strike by the United Auto Workers.
Asia-Pacific markets fell as traders awaited the Reserve Bank of Australia's policy meeting minutes, while European markets were weighed down by a spike in corporate lending rates; meanwhile, Goldman Sachs predicts that the Fed is done hiking this year and the recent increase in oil prices could benefit London's prime office real estate market.
European markets were mixed as investors awaited the U.S. Federal Reserve's monetary policy meeting and assessed the central banks' stance on inflation, with retail stocks making the biggest losses while autos and oil and gas were up.
