Opening Bell: US Futures, Europe Stocks Subdued; Bitcoin, Oil Slide – Investing.com
- Date: 08-Jun-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Opening Bell: US Futures, Europe Stocks Subdued; Bitcoin, Oil Slide – Investing.com
Markets await inflation data for clues ahead of Fed response
US Dollar, Treasuries rally
Gold falters
Key Events
Despite the expectation that the Biden Administration's spending plan will provoke a steep hike in inflation, futures on the , and were only moderately higher in trading on Tuesday, while futures were marginally lower. European stocks were also trading in the green, slightly below record highs.
Bitcoin slid to a four-and-a-half month low.
Global Financial AffairsThe Index climbed slightly with havens like utilities. Automakers dropped 0.8% after a six-day rally, which had driven the pan-European benchmark to a record high. German data revealed that Europe's largest economy's fell short of expectations, providing further evidence of supply bottlenecks and semiconductor shortages causing a slower than expected recovery in Europe's steam engine economy.
Swiss drug maker Lonza (SIX:) gained over 5%, taking the stock to an all-time high, after Goldman Sachs upgraded the stock to “buy,” while British American Tobacco (LON:) rose as much as 2.5%, before paring the gain to 1.6%, after raising its annual revenue growth forecast.
Traders in Asia experienced a roller coaster as early gains reversed. China's (-0.5%) underperformed, while Australia's (+0.1%) provided the best results.