Global Markets Juggle Earnings, Tariffs, and Economic Data
The article provides an overview of ongoing developments in European and global markets, with a focus on corporate earnings, central bank interest rates, and U.S. tariffs. Key market movements include the appreciation of the yen, the rise in Nasdaq futures, and shifts in Asian market indices. U.S. trade policies, including tariffs on copper and imports from South Korea, are highlighted.
European and global markets are navigating a week filled with key corporate earnings, interest rate decisions, and updates on trade negotiations. The yen rose 0.6% following the Bank of Japan's decision to maintain rates, suggesting possible inflation forecast revisions.
Nasdaq futures increased 1.3% amidst strong earnings from Microsoft and Meta. The U.S. dollar steadied after reaching a two-month high. Despite positive earnings, concerns linger about tariffs yet to impact the U.S. stock market, according to David Chao, Invesco's global market strategist for Asia-Pacific.
Asian shares showed mixed results; the MSCI index fell 0.7%, while Hong Kong stocks faced a 1.1% drop due to lower-than-expected July PMI data. U.S. tariffs on copper and new trade deals influence markets, alongside looming earnings and inflation reports expected to drive Thursday's developments.
(With inputs from agencies.)
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