According to Bloomberg, European stocks faced difficulties in gaining traction as investors awaited US price data to guide the Federal Reserve’s policy decisions. The Stoxx Europe 600 index erased its early gains, with travel and leisure shares leading the declines. Meanwhile, US equity-index futures pared gains after a flat trading day on Wall Street. Brent crude oil hovered near its recent levels, while the British pound gained. The FTSE 100 index underperformed Europe’s benchmark following data that showed economic challenges in the UK.
After last week’s market turmoil, investors are focusing on the upcoming US data release on Wednesday. Market participants suggest that equities are still in recovery mode after the recent shakeout and are holding back from significant investments until the key US data is available. Traders are also closely monitoring events in the Middle East, particularly after the US indicated that an Iranian attack on Israel could be imminent. This geopolitical tension was highlighted by Fitch Ratings’ recent actions.
In Asia, Japan’s equities experienced fluctuations, while in China’s Jiangxi province, regulators instructed commercial banks not to settle their purchases of certain assets. These developments are part of broader market movements influenced by regional and global economic factors.
This report was produced with the assistance of Bloomberg Automation.
