European Shares Set For Cautious Start
(RTTNews) - European stocks look set to open on a cautious note Thursday as investors react to conflicting trade talk headlines.
The United States and China made no progress in deputy-level trade talks held on Monday and Tuesday in Washington, the South China Morning Post (SCMP) said, citing sources.
The White House has denied reports suggesting that Chinese Vice Premier Liu He is planning to leave Washington on Thursday after just one day of minister-level meetings.
Asian markets are trading mixed and the U.S. dollar ticked down slightly while oil prices fell on concerns of lower fuel demand.
Turkey launched airstrikes and fired artillery aimed at crushing Kurdish fighters in northern Syria after U.S. troops pulled back from the area.
Meanwhile, U.S. Democratic presidential contender Joe Biden called for the impeachment of Trump for the first time in a deepening partisan fight over a congressional investigation of the Republican president.
In economic releases, U.K. housing market activity remained subdued as economic and political uncertainty ahead of Brexit weighed on sentiment among buyers and vendors, survey results from the Royal Institution of Chartered Surveyors, showed today.
The headline house price balance came in at -2 percent in September compared to -4 percent in August.
Monthly GDP data from the U.K. and foreign trade figures from Germany are due later in the session, headlining a busy day for the European economic news.
Across the Atlantic, reports about the trade negotiations are likely to overshadow readings on consumer prices and weekly jobless claims.
Overnight, U.S. stocks rose after a report from Bloomberg News said China is still open to reaching a partial trade deal with the U.S. as long as Trump doesn't impose any more tariffs.
It was said that Beijing was ready to offer non-core concessions like purchases of agricultural products without giving in on major sticking points.
Traders shrugged off the minutes of the Federal Reserve's September monetary policy meeting, which revealed a few participants expressed concerns that the markets expect more interest rate cuts than are appropriate.
The Dow Jones Industrial Average gained 0.7 percent, the tech-heavy Nasdaq Composite surged 1 percent and the S&P 500 added 0.9 percent.
European markets rose on Wednesday amid hopes about further interest rate cuts by the Federal Reserve and easing Brexit worries.
The pan European Stoxx 600 gained 0.4 percent. The German DAX jumped 1 percent, France's CAC 40 index advanced 0.8 percent and the U.K.'s FTSE 100 inched up 0.3 percent.
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