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- European stock climb, traders focus on FED and ECB – market wrap
European stock climb, traders focus on FED and ECB - market wrap
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Loading...European stocks bounced after Monday’s losses as traders shifted focus from North Korea to a week packed with central-bank decisions, Federal Reserve speakers and economic data that will help illuminate the path of the global economy.
Most industry sectors in the Stoxx Europe 600 Index gained as data from China to the euro area pointed to a resurgent global economy.
The yen extended gains and Treasuries climbed amid lingering unease over North Korean plans for a ballistic missile launch, but government bonds across Europe fell with gold as the risk-off trade eased. S&P 500 futures declined before U.S. markets reopen after the Labor Day holiday. West Texas crude rose a third day and copper gained most among industrial metals.
Investors are gearing up for a full calendar of Fed speakers from today, while Mario Draghi may give more clarity on paring back the European Central Bank’s bond-buying program when he speaks after a rates decision on Thursday. U.S. durable-goods figures, the trade balance, unemployment claims, and the release of the Fed’s Beige Book will add to the global data mix after a purchasing managers’ index Tuesday indicated the euro area is poised for the fastest economic expansion in a decade.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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