Arizona Tribune - Stock markets mostly rise before US data

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Stock markets mostly rise before US data / Photo: CHIP SOMODEVILLA - GETTY IMAGES NORTH AMERICA/AFP

Stock markets mostly rise before US data

ECONOMY 26.03.2024

European and Asian stock markets mostly rose and the dollar fell Tuesday ahead of US consumer data that could make clearer the outlook for interest rates in the world's top economy.

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Investors are also gearing up for the first-quarter earnings season, with some observers warning that profit expectations, which have helped push several markets to record highs, may have gone too far and disappointing reports could spark a pullback in equities.

"After a strong performance last week, investors may be taking a hiatus and possibly enjoying the spring break, while others are adopting a wait-and-see approach for the next bullish catalyst," said SPI Asset Management's Stephen Innes.

All eyes at the end of the week will be on US inflation data.

Recent guidance from the Federal Reserve pointed to three interest rate cuts before the end of the year. But strong economic data and comments from some central bank officials have fuelled worries it could come up short.

Wall Street closed lower Monday as talk swirls that the recent rally may have been overdone.

"The wait-and-see mood on the markets is continuing with recent exuberance fading," noted Susannah Streeter head of money and markets at Hargreaves Lansdown.

Elsewhere on Tuesday, oil prices built on Monday's rally thanks to worries about potential tight supplies.

On the corporate front, debt-ridden French IT group Atos, the cybersecurity and data provider for the Paris Olympics, posted a huge annual loss but vowed that its troubles would not disrupt the Games.

The company reported a net loss of 3.4 billion euros ($3.7 billion) for 2023 on asset writedowns and said it was aiming for a debt restructuring by July.

Atos shares were down nearly seven percent at 1.6 euros in Paris afternoon trading. Its stock has plummeted from around 15 euros in July last year.

- Key figures around 1145 GMT -

London - FTSE 100: UP 0.1 percent at 7,921.63 points

Paris - CAC 40: UP 0.2 percent at 8,168.26

Frankfurt - DAX: UP 0.7 percent at 18,383.28

EURO STOXX 50: UP 0.4 percent at 5,064.03

Tokyo - Nikkei 225: FLAT at 40,398.03 (close)

Hong Kong - Hang Seng Index: UP 0.9 percent at 16,618.32 (close)

Shanghai - Composite: UP 0.2 percent at 3,031.48 (close)

New York - Dow: DOWN 0.4 percent at 39,313.64 (close)

Euro/dollar: UP at $1.0860 from $1.0841

Dollar/yen: DOWN at 151.35 yen from 151.42 yen on Monday

Pound/dollar: UP at $1.2663 from $1.2638

Euro/pound: DOWN at 85.73 pence from 85.76 pence

Brent North Sea Crude: UP 0.2 percent at $86.91 per barrel

West Texas Intermediate: UP 0.2 percent at $82.12 per barrel

burs-bcp/rfj/rl

E.Rodriguez--AT

Arizona Tribune - Stock markets mostly rise before US data

Stock markets mostly rise before US data

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