Markets in Britain will likely return from the long weekend with a bang on Tuesday after Donald Trump's backflip over his threatened 50% tariff on the European Union, although worries about his erratic policy shifts could make the lift short-lived. FTSE futures were up sharply in Asia and Wall Street futures similarly pointed to a strong open, after the cash market was closed for a holiday in the previous session.
Updates with turnaround in Japan shares
Here are the indicators to watch this week.
Data on U.S. consumer confidence and housing prices were due later in the day. The future for the S&P 500 was up 1.2% and that for the Dow Jones Industrial Average gained 1.1% after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union to July 9. In Asian trading, Japan's Nikkei 225 reversed early losses to gain 0.5%, closing at 37,724.11 after the central bank's said he anticipates raising interest rates in coming months due to inflationary pressures.
Data on U.S. consumer confidence and housing prices were due later in the day. The future for the S&P 500 was up 1.2% and that for the Dow Jones Industrial Average gained 1.1% after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union to July 9. In Asian trading, Japan's Nikkei 225 reversed early losses to gain 0.5%, closing at 37,724.11 after the central bank's said he anticipates raising interest rates in coming months due to inflationary pressures.
SINGAPORE (Reuters) -Shares were mixed on Tuesday as U.S. President Donald Trump's postponement of his threatened 50% duties on European Union shipments reinforced the unpredictability of his trade policies and kept investor sentiment fragile. Wall Street futures and FTSE futures were up sharply in the Asian session, following a holiday in the U.S. and the UK at the start of the week, though shares elsewhere reversed their short-lived rally. Nasdaq futures and S&P 500 futures each rose 0.9%, while FTSE futures tacked on 0.87%, pointing to a strong open during the cash sessions later in the day following Trump's U-turn on his threat to impose 50% tariffs on imports from the EU next month, restoring a July 9 deadline.
BEIJING (Reuters) -China's industrial profits picked up pace in April, official data showed on Tuesday, giving policymakers cause for optimism that recent stimulus efforts are helping to keep the economy afloat despite trade tensions with the United States. U.S. President Donald Trump's decision to single China out in his global trade war has stirred significant worries about an economy that has been reliant on an export-led recovery to drive momentum in the face of weak domestic demand and deflationary pressures. Industrial profits rose 1.4% year-on-year in the January-April period, according to data released by the National Bureau of Statistics (NBS).
TOKYO (Reuters) -The dollar struggled on Tuesday to regain its footing as investor concerns over a sweeping tax and spending bill and its implications for the U.S. debt profile added to the recent erosion of confidence in American assets. The euro gained on Monday while the United States was on holiday, after U.S. President Donald Trump delayed the imposition of tariffs on Europe. The yen was underpinned by comments from the Bank of Japan governor that kept alive chances for interest rate hikes later this year.
Investing.com-- U.S. stock index futures rose sharply on Monday evening as investors were relieved by President Donald Trump postponing plans to impose steep trade tariffs on the European Union.
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