Banks led European shares closed slightly lower on Monday as Deutsche Bank slid despite a major restructuring move, while fading hopes of a sharp interest-rate cut by the U.S. Federal Reserve weighed on broader markets. The pan-European STOXX 600 index ended marginally lower by 0.05% with all major indices in the red. The DAX is down 0.20% while France's CAC 40 is off 0.08% and London's FTSE 100 is lower by 0.05%.
U.S. Stocks closed lower on Monday as investors backed away from hopes that the Federal Reserve would aggressively cut interest rates to boost the economy. The Dow Jones Industrial Avrage traded 115.98 points, or 0.43%, lower to 26,806.14 while the S & P pulled back 0.48% to 2,975.95. The tech-heavy Nasdaq Composite lagged, sliding 0.78% to 8,098.38.
Oil futures diverged Monday, with U.S. prices up a third straight session while global benchmark Brent finished lower, as tensions with Iran, and the possibility of disruptions to oil flow in the Middle East, increased. Concerns surrounding energy demand, however, lingered. August West Texas Intermediate crude edged up by 15 cents, or 0.3%, to settle at $57.66 a barrel on the New York Mercantile Exchange. International benchmark September Brent lost 12 cents, or 0.2%, to $64.11 a barrel on ICE Futures Europe.
Asia Pacific Markets looked set to start the trading day today on a cautious note following losses on Wall Street overnight.
European stocks set to open lower as hopes of a Fed rate cut fade
Asia Pacific stocks mostly declined on today amid dampened expectations on the Fed cutting rates this month. as expectations waned for a hefty interest rate cut by the U.S. Federal Reserve later this month, while technology companies retreated on Apple Inc’s overnight drop. Mainland China shares continued to fall after losses on Monday. In China, the Shanghai Composite is 0.23% lower , while Hong Kong’s Hang Seng fell 0.69%. Japan’s Nikkei was the outlier in Asia, inching up 0.10% . TheKospi down 0.59%. The ASX 200 fell 0.24%.
Asian stocks struggled to rebound and closed generally lower on today as investors came to terms with sharply reduced expectations the Federal Reserve will deliver a large interest rate cut at the end of July. The Nikkei 225 gained 0.14%, while the Hang Seng led the Shanghai Composite lower. They fell 0.76% and 0.18% respectively. The Kospi is off 0.59 %. The ASX 200 is down 0.10%.
European shares opened lower on TOday in what could be their third straight day of losses as German shares fell sharply due to a profit warning from chemicals giant BASF.The pan-European STOXX 600 fell 0.78% . London’s benchmark FTSE 100 index dropped 0.35%. The DAX 30 shed 1.31% points and the s CAC 40 lost 0.72%.
The U.S. Stock Futures are lower on Tuesday morning, as traders waited to hear from Federal Reserve Chairman Jerome Powell. At around 05:34 a.m. ET, Dow futures slipped 133 points, indicating a negative open of more than 140.14 points. Futures on the S&P and Nasdaq are also lower 14.25 and 52.50 points respectively.