European stocks look set to open higher on Friday, even as a cautious undertone may prevail amid concerns about the spread of COVID-19 variants, Fed tapering and China’s continuing regulatory crackdown on the tech sector.
Asian markets traded mixed, with Chinese and Hong Kong shares suffering heavy losses as state media scrutiny of online health care and medical beauty firms kept the focus on the government’s clampdown.
Earlier today, China left its benchmark lending rate for corporate and household loans unchanged for a 16th straight month, as widely expected.
Treasuries extended gains and the dollar held around a nine-month high, while oil headed for a weekly loss about 6 percent on concerns about weaker fuel demand as COVID-19 cases surge worldwide.
Gold edged up slightly on rising concerns over the spread of coronavirus Delta variant and its impact on economic recovery.
U.S. stocks ended narrowly mixed overnight as data showed initial jobless claims fell to a new pandemic-era low in the week ended August 14th, adding to concerns the Federal Reserve could begin tapering stimulus this year.
The Dow slipped 0.2 percent while the tech-heavy Nasdaq Composite and the S&P 500 both inched up 0.1 percent.
European stocks fell sharply on Thursday amid uncertainty over the spread of the coronavirus and the Fed’s taper plans.
The pan European Stoxx 600 declined 1.5 percent. The German DAX tumbled 1.3 percent, France’s CAC 40 index plunged 2.4 percent and the U.K.’s FTSE 100 lost 1.5 percent.
European Shares Set For Steady Open
2021-08-20 05:37:50
