European stocks are seen higher at open on Monday despite lingering concerns about inflation and its impact on global growth.
The dollar eased and the U.S. 10-year Treasury bond yield fell 6 basis points to 2.78 percent, while gold prices touched a more than one-week high as investors await the minutes from the Fed’s recent meeting and a second reading on U.S. Q1 GDP this week for more clues on the pace of future rate hikes.
Oil prices climbed amid hopes for solid fuel demand heading into the peak U.S. driving season.
Asian markets traded mixed in cautious trade, with Chinese and Hong Kong stocks declining as Beijing reported record highly daily Covid cases and Shanghai pushed for more restrictions.
U.S. stocks seesawed before finishing mixed on Friday amidst fears of a looming recession. The Dow ended marginally higher after having plunged more than 600 points at its worst levels.
The tech-heavy Nasdaq Composite slipped 0.3 percent, while the S&P 500 briefly fell into bear market territory before ending largely unchanged.
European stocks closed higher on Friday but still logged a negative week on concerns about inflation and growth.
The pan European Stoxx 600 gained 0.7 percent after China cut its main mortgage interest rate by the most on record and British retail sales unexpectedly rose in April.
The German DAX rose 0.7 percent, France’s CAC 40 index edged up 0.2 percent and the U.K.’s FTSE 100 added 1.2 percent.
Market Analysis
European Shares Seen Higher At Open
2022-05-23 05:33:14
