European shares close generally lower for the fourth straight session on Wednesday, as bets on an aggressive half-point cut in U.S. interest rates next month collapsed following a more measured than expected message from Federal Reserve officials. The pan-European STOXX 600 index fall 0.31% The FTSE 100 gained 0.08%, while the DAX led the CAC 40 lower. They fell 0.25% and 0.14% respectively.
Wall Street Stocks closed mostly lower Wednesday, as investors grew increasingly skeptical that a U.S.-China trade deal is in the offing, though technology shares were supported by optimism related to Micron Technology’s better-than expected guidance. The Dow Jones Industrial Average fell 11.4 points, or 0.04%, to 26,536.82, but had been as high as 26,669, while the S&P 500 ell 3.6 points, or 0.12%, to 2,913.78, representing a fourth straight decline for the index, its longest string of loses since a similar downturn ended May 9 The Nasdaq Composite Index rose 25.2 points, or about 0.32%, to 7,909.97, halting a three-session stumble.
Oil prices rose more than 2% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a larger-than-expected drawdown in crude stocks as exports hit a record high, and surprise drops in refined product stockpiles. Brent crude futures rose $1.44, or 2.2%, to settle at $66.49 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $1.55, or 2.7%, to settle at $59.38 a barrel.
Markets in Asia Pacific advanced on today following a media report the United States and China have tentatively agreed to a truce ahead of a highly-anticipated weekend meeting of the two nations’ leaders in Tokyo. The Hang Seng is up 1.42% while Japan's Nikkei 225 is up 1.19% and China's Shanghai Composite is up 0.69%. The Kospi gain 0.59%. The ASX 200 raise 0.39%
Renewed trade optimism helped prop up European shares in early dealings on Thursday, after a report said the United States and China have reached a tentative truce ahead of a highly anticipated G20 summit this weekend.The pan-European STOXX 600 index raise 0.29%. The DAX is up 0.58% while London's FTSE 100 is up 0.14% and France's CAC 40 is up 0.05%.