Stock prices on world stock exchanges moved in different directions on Tuesday as investors in Europe and the US remained cautious ahead of the release of key US economic data and an expected speech from the head of the Federal Reserve System (FRS) of the United States, Jerome Powell, Wednesday.
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Asian stocks surged on Tuesday after protests against Covid-19 restrictions were headed off in China, but the trend didn’t trigger a similar reaction European stock exchanges and Wall Street.
Powell’s speech at the Brookings Institution comes as markets await an imminent move by the US central bank to a more accommodative policy of raising interest rates to counter rising inflation.
“Markets have the potential to see share prices higher tomorrow unless it comes as a surprise,” said LBBW analyst Carl Hayling.
US jobs data is due on Friday which could influence the FRS’s monetary policy plans.
The Dow Jones Industrial Average was unchanged on Tuesday at 33,852.53 points, the Standard & Poor’s 500 index fell 0.2% to 3,957.63 points, while the “Nasdaq Composite” decreased by 0.6% to 10,983.78 points.
London’s FTSE 100 rose 0.5% to 7,512.00 on Tuesday, Frankfurt’s DAX extension 30 index fell by 0.2% to 14,355.45 points, while the CAC 40 index of the Paris Stock Exchange rose by 0.1% to 6,668.97 points.
WTI crude oil rose 1.2% to $78.20 a barrel in electronic trading on the New York Stock Exchange on Tuesday. The price of “Brent” crude oil on the London stock exchange fell by 0.2% to 83.03 dollars a barrel.
The euro fell $1.0340 to $1.0332 per euro on Tuesday, the British pound fell $1.1959 to $1.1952 per pound and the dollar fell 138.95 against the Japanese yen to 138.67 yen to the dollar. The euro fell against the British pound from 86.45 to 86.42 pence to the euro.
