European stocks may open slightly higher on Thursday as signs of progress in U.S. debt ceiling negotiations helped improve risk sentiment.
Crucial debt ceiling negotiations are still far from success, but it appears that a deal is possible by the end of the week.
Asian markets followed Wall Street higher as U.S. debt default worries and concerns about the health of U.S. regional banks eased.
U.S. Treasury yields remained elevated and the dollar held near a seven-week high against major currencies, pushing oil and gold prices lower.
The U.S. economic calendar remains heavy today, with reports on weekly jobless claims, existing home sales and Philadelphia-area manufacturing likely to sway sentiment.
On the earnings front, retail giant Walmart will release its quarterly results before the opening bell.
U.S. stocks rallied overnight after regional lender Western Alliance Bancorp came out with a filing showing deposit increase and a statement from the White House said President Biden is “optimistic that there is a path to a responsible, bipartisan budget agreement.”
The Dow and the S&P 500 both climbed around 1.2 percent while the tech-heavy Nasdaq Composite surged 1.3 percent to reach a nearly nine-month closing high.
European stocks ended broadly lower on Wednesday as investors reacted to hawkish comments from Fed officials and rising concerns over China’s recovery.
The pan European STOXX 600 eased 0.2 percent. The German DAX rose 0.3 percent, while France’s CAC 40 finished marginally lower and the U.K.’s FTSE 100 shed 0.4 percent.
Business News
European Shares Seen Opening Up As US Debt Talks Progress
2023-05-18 05:31:48
