News Formal

European stocks cautiously higher as market uncertainty lingers; Sweden's Riksbank cuts rates

  • 📰 CNBC
  • ⏱ Reading Time:
  • 39 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 61%
  • Publisher: 72%

World Economy News

World Markets,FTSE MIB,CAC 40 Index

European stocks were cautiously higher Tuesday as market uncertainty over the outlook for interest rate cuts lingers.

index was up 0.15% in early deals, with sectors and major bourses trading in mixed territory. Tech stocks added 1.28%, while oil and gas fell 1.2%.Reuters last week that the company was looking for a big pharma partner to help bring its weight loss drug to market.

In central bank news, Sweden's Riksbank cut interest rates by 25 basis points to 3.50% from 3.75%, and signaled more rate cuts to come. Global markets will now be focused on key Federal Reserve events this week. Minutes from the central bank's most recent meeting will be released Wednesday, before Fed Chair Jerome Powell's Jackson Hole, Wyoming, speech on Friday.

Both events could give investors more clarity on the outlook for interest rate cuts and what to expect at the Fed's next meeting. Fed futures funds pricing indicates a roughly 76% likelihood of central bank policymakers lowering rates by 25 basis points in September, per theVeteran investor Mark Mobius says this 'historically significant' factor could set back U.S. stocks

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

USD/JPY rises to near 148.00 as calm market sentiment dents Yen’s appealThe USD/JPY pair jumps to near 148.00 in Tuesday’s European session.
Source: FXStreetNews - 🏆 14. / 72 Read more »

European stocks open higher; UK wage growth falls to two-year lowEuropean stocks opened higher Tuesday, regaining some positive momentum after last week’s volatility.
Source: nbcsandiego - 🏆 524. / 51 Read more »