European stocks are likely to open on a cautious note Tuesday as concerns over coronavirus vaccination and rising infections continued to be in the spotlight, and Treasury yields rebounded on prospects for a strong global recovery.
Asian markets are trading mixed as investors weighed corporate earnings and recent spikes in virus cases. Gold slipped from a seven-week high hit in the last session while the dollar wallowed near a six-week low against its peers.
U.S. President Joe Biden held a meeting on Monday with a bipartisan group of lawmakers who have all served as governors or mayors, as the White House seeks a deal on his more than $2 trillion jobs and infrastructure proposal.
“I am prepared to compromise and prepared to see what we can do and what we can come together on,” Biden said at the outset of the meeting.
Earlier today, China kept its benchmark lending rates unchanged, as widely expected.
The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent.
Oil prices edged higher on dollar weakness and on expectations of a drop in U.S. crude oil and distillate stockpiles last week.
U.S. stocks slipped from record highs overnight as investors looked ahead to more earnings news and economic data to gauge whether high valuations are justified.
The Dow slipped 0.4 percent, the S&P 500 shed half a percent and the tech-heavy Nasdaq Composite lost 1 percent.
European markets ended mixed on Monday, giving up early gains. The pan European Stoxx 600 ended flat with a negative bias.
The German DAX gave up 0.6 percent and the U.K.’s FTSE 100 eased 0.3 percent while France’s CAC 40 index edged up 0.2 percent.
Business News
European Shares Set For Cautious Start
2021-04-20 05:36:14
