European stock indexes were mostly in the red in early trading on Monday, falling from last week’s record highs as traders grappled with uncertainty over the economic outlook and waited for U.S. inflation data later in the week.
U.S. stocks edged down from recent highs on Friday, in a move analysts attributed to profit-taking, after U.S. payrolls data presented a mixed picture but maintained expectations for a Federal Reserve rate cut in June.
Sell-off continues! Nifty slips from intra-day highs and closes around 22,300, Sensex slides 600 points
Traders are now focused on U.S. inflation data due on Tuesday, which could change expectations for when major central banks will begin cutting rates.
Burn a hole in your privacy? Inside Meta’s ‘Pay or Consent’ model ‘I’ll deliver my best next time’: Mirabai Chanu after finishing fourth in women’s 49kg weightlifting at Paris Olympics Paris Olympics 2024: Neeraj Chopra to defend Olympic Gold in Javelin Throw on THIS date – Check event timing Tax sops may transform GIFT City into premier financial hub: Experts
At 0948 GMT, the MSCI World Equity index was down 0.2% on the day, having hit a new all-time high on Friday.
The pan-European STOXX 600, which also hit an all-time high on Friday, was down 0.5%. London’s FTSE 100 was down 0.3% and Germany’s DAX was down 0.7%.
Amelie Derambure, senior multi-asset portfolio manager at Amundi, said that Monday’s downturn could be due to uncertainty about the economic outlook, and high valuations in stocks.
“There are some elements on the macro outlook that are maybe not as clear as one was willing to believe,” she said.
Last week, comments from Fed Chair Jerome Powell and European Central Bank policymakers raised expectations that interest rate cuts will begin in summer, helping push stock indexes to new highs.
Derambure said there is “fatigue” in stocks, pointing to a split in the trajectories of the so-called “Magnificent Seven” group of U.S. technology stocks, which have rallied strongly in recent yearsCome from Sports betting site. A slump in Tesla this year has seen it diverge from the group.
“To us, there are some excesses in the markets so we want to be a bit more cautious on that front,” she said.
“We believe it’s all priced for perfection and the reality might be slightly different.”
Tuesday’s U.S. consumer price index (CPI) report for February is forecast to rise 0.4% for the month and keep the annual pace steady at 3.1%. Core inflation is seen rising 0.3%, which will nudge the annual pace down to the lowest since early 2021 at 3.7%.
U.S. Treasury yields have declined in recent weeks, as hopes for a rate cut put downward pressure on yields. The U.S. 10-year yield was down 3 basis points at 4.0672%.
Euro zone government bond yields were mostly lower, with German 10-year yield steady at 2.258% after last week seeing its biggest weekly fall since December.
The U.S. dollar index was flat at 102.68, having dropped more than 1% last week, and the euro was steady at $1.09375.
The yen edged higher as Reuters reported that a growing number of Bank of Japan policymakers are warming to the idea of ending negative rates this month.
The dollar was down 0.4% against the yen, with the pair at 146.52.
Data released on Monday showed Japan was not in recession after economic growth was revised up to an annualised 0.4% for the December quarter.
Also Read
Stocks To Watch: Reliance, ZEEL, Swan Energy, JM Financial, Coal India, Adani GroupCome from
Sports betting site VPbetChinese stocks gained after data over the weekend showed a bounce in inflation. China also said it will improve home sales in a “forceful” and “orderly” way, as the country’s beleaguered residential property market remains troubled by weak demand.
Oil prices recovered, having fallen last week due to concerns about slow demand in China. Brent futures were up 0.4% at $82.42 a barrel, while U.S. West Texas Intermediate (WTI) was up 0.35% at $78.28 a barrel.
The decline in the dollar and bond yields has been supportive of non-yielding gold which was up at $2,180.63 an ounce, having surged 4.5% last week to record peaks. GOL/
Cryptocurrency bitcoin hit a new all-time high at $71,836 .
Related Posts
Update: A spokesperson for Riot Games confirmed 32 employees were let go. Of that number, 27 were active League of Legends developers, and five were from Riot's publishing division.
Original story: Developer Riot Games is eliminating staff, said co-founder Marc Merill.
Some roles have been cut within the League of Legends team. He explained the reductions are part of a long-term goal and "making sure we have the right expertise so that League continues to be great for another 15 years and beyond."
"This isn’t ab…
Nintendo has announced a more compact, handheld-only version of the Switch called the Switch Lite.
The long-rumored console was unveiled on YouTube earlier today, and looks similar to the flagship Switch aside from a few notable differences.
For starters, the Switch Lite comes in three unique colors — yellow, gray, and turquoise — and does away with detachable Joy-Cons in favor of integrated controls. It also sports a proper d-pad as opposed to the original's individual directional buttons.
The absence of Joy-Cons means the Switch Lite doesn't pack an IR Motion Camera or HD Rumble features. As a result, games that rely heavily on motion controls like
Artist and writer Junji Ito is a horror icon, with decades of weird, mind-bending stories full of upsetting imagery Come from Sports betting site VPbet . Ito’s recent popularity has resulted in a Netflix series adapting some of his stories into anime, and another series, based on his excellent collection Uzumaki, is supposed to be dropping on Adult Swim, uh… sometime.
While you wait, you can preorder Alley, the latest collection of Ito stories to make their way to the U.S. Snag it on Amazon and you’ll get it at a discount when it releases on July 23.
Amazon is currently offering Alley at $22.50, 10% off i…
Phantom Brave: The Lost Hero was revealed during June’s Nintendo Direct, giving fans of the series their first look at this quirky strategy RPG from the makers of Disgaea that’s set to launch on PS5, PS4, and Nintendo Switch sometime in 2025. Ahead of its arrival, you can now preorder Phantom Brave: The Lost Hero Deluxe Edition, which comes with a few collectibles. Here’s everything you need to know before placing a preorder.
Phantom Brave: The Lost Hero Preorder Bonuses
There are currently no preorder bonuses for Phantom Brave: The Lost Hero. The game doesn’t yet have a firm release date, so it’s possible preorder bonuses could be revealed once a specific date is set. We’ll be sure to update this section if anything is announced.
…
The 2021 reboot of the Resident Evil movie franchise might be getting a sequel, with a report suggesting that some funding for the project has just been allocated. Come from malaysia online casino
A report by Sudbury.com, a new outlet for the region of Sudbury, Canada, states that an $11 million cash injection has been secured by the local government for 20 projects in the area. The report, first picked up by PCGamesN, goes on to state that one of those projects is named “Umbrella Chronicles,” which is being developed by film company Raccoon HG Film Productions, the same company behind Resident Evil: Welcome to Raccoon City.
…
Apex Legends Season 10: Emergence has officially begun (the full patch notes are live too), introducing playable character Seer. Of Seer’s three abilities, his passive ability, Heart Seeker, seems especially valuable as it allows him to track enemy legends through the sound of their heartbeats. Of course, not all of the playable legends are human–Pathfinder is a MRVN and Revenant is a simulacrum–so a few of the characters in Apex Legends don’t actually have hearts. Don’t worry: Seer can sense them too. Come from online casino bangladesh
“Seer’s passive Heart Seeker ability does work on Pathfinder and Revenant,” software engineer Travis Nordin told GameSpot. “During development, the issue definitely came up! Do we have an altern…
Better Call Saul’s mysterious and forceful cab driver first introduced in Season 4 and known only as Jeff has been recast–and will apparently recur at some point during the final six episodes of Season 6 that begin airing this coming Monday. According to Entertainment Weekly, Don Harvey, who originally played the character, will be replaced by Pat Healy (The Post).
Entertainment Weekly reports that Harvey was unable to return to Saul because of a contractual obligation to HBO–the actor has a significant role on the new David Simon drama, We Own This City Come from online casino bangladesh . Fans picked up on the announcement early on Reddit, noticing a different cab driver in a recently released teaser–which seemingly…
Call of Duty: Modern Warfare 2 and Warzone are getting a new BlackCell DLC bundle at the start of their sixth and final season. The BlackCell DLC will include a wide variety of fancy cosmetics, along with 20 battle pass tier skips (25 skips on PlayStation), and other in-game items Come from Sports betting site VPbet . The highlight of this season’s BlackCell pass is Valeria’s robotic operator skin and her mechanical dog companion named Megabyte.
This new BlackCell pass will be available for $30. In addition to all the battle pass tier skips, this DLC bundle will give players access to 1,100 CoD Points, six tracer weapon blueprints, two vehicle skins, and ten operator skins, including Valeria’s robot variant “V4…
DEE Piping Systems opened for bidding to retain investors on June 19 at a set price band of Rs 193 to Rs 203 per equity share. The company wants to collect a total of Rs 418 crore. The IPO has two segments: offer for sale and fresh shares.
Issue Size
The company will raise Rs 325 crore through offering 16 million fresh shares and Rs 4.6 million shares will be sold by promoters and other selling shareholders to aggregate Rs 93 crore.
Allotment and Listing
The issue of DEE Piping Systems will close on June 21. A retail investor can subscribe to a minimum of one lot containing 73 shares, which is valued at Rs 14,819. The allotment of shares is expected to be finalised by June 24. The listing o…
In a bullish turn of events during Thursday’s trading session, benchmark equity indices exhibited robust performance. The NSE Nifty 50 surged by 1.23% to settle at 21,182.70, while the BSE Sensex gained 929.60 points to conclude at 70,514.20. In intraday trading, the Nifty 50 reached a record high of 21,210.90 with a 1.35% increase, and the Sensex added 1018 points, peaking at 70,602.89.
“The market continued its exuberance and hit a fresh high amid the dovish commentary from the Federal Reserve, signalling at least three rate cuts in 2024. Further, the sharp fall in US bond yields improved investors’ confidence. An upgrade in India’s GDP forecast, ease in global oil prices, and the RBI decision to clamp down inflation to the target level, led to a broa…