European stocks are seen opening little changed on Friday, with declining oil prices and an overnight retreat in U.S. Treasury yields likely to offer some support.
Asian markets were seeing a mixed trend as the Bank of Japan maintained its ultra-easy monetary policy as widely expected.
Japan’s key measure of consumer prices rose 0.1 percent in May, marking the first increase in 14 months, government data showed earlier today, far from the central bank’s 2 percent goal.
Oil prices fell for a second day on demand worries after Britain reported its biggest daily rise in new cases of Covid-19 since February 19. The prospect of extra supply coming to the market soon from Iran also weighed on oil prices.
The dollar eased back slightly in Asian trade after its solid push higher on Thursday. Gold ticked up but was on track for its worst week since March 2020.
U.S. stocks ended mixed overnight as investors weighed Fed guidance on interest rates and inflation. Investors also reacted to disappointing readings on weekly jobless claims and Philadelphia-area manufacturing activity.
The S&P 500 slid marginally and the Dow gave up 0.6 percent to extend losses for the fourth day and hit a one-month low, while the tech-heavy Nasdaq Composite climbed 0.9 percent to close near a record high.
European stocks snapped their longest record-setting streak since 1999 on Thursday after the Federal Reserve signaled earlier-than-expected interest rate increases.
The pan European Stoxx 600 eased 0.1 percent. The U.K.’s FTSE 100 dropped 0.4 percent while the German DAX edged up 0.1 percent and France’s CAC 40 index added 0.2 percent.
Market Analysis
European Shares Set To Open On Flat Note
2021-06-18 05:33:35
