Stocks Trade Mixed With Focus on Inflation Data – Europe Market Wrap
As markets reopened in Europe and the United States, stocks traded mixed, with investors seeking for clues on the timing of interest-rate reduction from inflation data and central bank speakers.
US stock futures rose 0.2%, boosted by premarket gains for Apple, which increased 2.4% after China sales returned. Europe’s Stoxx 600 fell 0.2%, cutting its May gain to 3.2%.
Earnings performance from tech megacaps such as Nvidia has helped equities recover from April’s drop, even as US data and cautious Fedspeak dampen market expectations for policy easing this year. In an eventful week for data, traders are focusing on the PCE deflator, the Fed’s favoured inflation indicator, on Friday.
On Tuesday, treasuries made tiny swings ahead of a series of short-term auctions, including offers of two- and five-year notes. Brent crude was flat, even as tensions in the Middle East increased.
