European Stocks Steady Ahead of US Inflation Data; Smurfit Falls

The Stoxx 600 Index gained 0.1% by 8:05 a.m. in London, boosted by retail and healthcare stocks while energy stocks lagged. Equities got a boost on Monday after Yellen said she’s increasingly confident that the US will be able to contain inflation without major damage to the job market.

Meanwhile, over in the UK, wage growth held at a record high in the three months through July, a sign of persistent inflation that keeps pressure on the Bank of England to raise interest rates again. Germany’s economic recovery is in spotlight as well today with the release of the ZEW survey, as sentiment will likely be weighed down by tighter monetary conditions. Athey expects the market to be “braced for a continuation of the recent bad news from the continental economy.”

In the US, the Federal Reserve is done raising interest rates and will likely cut them by roughly one percentage point next year, according to Simona Mocuta, chair of the 14-member panel and chief economist at State Street Global AdvisorsEuropean IT and software stocks may be active on Tuesday as Oracle Corp. dropped in late trading after it reported cloud sales growth that slowed in the quarter, dimming enthusiasm about the sector.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks steady, dollar catches breath as traders eye US CPIAsian stock markets nudged sideways on Tuesday while the dollar took a breather, its recent gains chastened by resistance from central banks in China and Japan and by traders waiting on U.S. inflation data to signal that interest rates may have peaked. The yen notched its best day against the dollar in two months overnight, after Bank of Japan Governor Kazuo Ueda said policymakers might have enough economic information by year's end to determine that short-term rates will need to rise.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks steady, dollar catches breath as traders eye US CPIBy Tom Westbrook SINGAPORE (Reuters) - Asian stock markets nudged sideways on Tuesday while the dollar took a breather, its recent gains chastened by ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

European Stocks Rise as US Soft Landing Hopes Boost Risk AssetsEuropean stocks rose on Monday, extending last week’s tentative rebound as comments from Treasury Secretary Janet Yellen raised hopes that the US economy is headed toward a soft landing.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stocks set up for gains amid hopes for soft landing: Stock market news todayUS futures moved higher on Monday as investors weighed Janet Yellen's upbeat remarks on the US economy and as Tesla surged.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks gain amid hopes for soft landing: Stock market news todayUS futures moved higher on Monday as investors weighed Janet Yellen's upbeat remarks on the US economy and as Tesla surged.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »