'We are already in the danger zone for equities,' says strategist
Emmanuel Cau, head of European equity strategy at Barclays, discusses global bond and equity markets from the Barclays Leadership Conference in London.
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CNBC
an hour ago
- CNBC
European markets head for higher open; U.S.-China trade talks to take place in London
LONDON, ENGLAND - MARCH 24: A red London double decker bus and a UPS delivery van pass across Waterloo Bridge in front of St. Paul's Cathedral on March 24, 2025 in London, United Kingdom. (Photo by) John Keeble | Getty Images News | Getty Images Good morning from London! This is CNBC's live blog covering all the action in European financial markets as the new trading week begins. Futures data from IG suggests London's FTSE will open 7 points higher at 8,836, Germany's DAX up 3 points at 24,296, France's CAC 40 up 5 points at 7,801 and Italy's FTSE MIB 13 points higher at 40,595. Global market focus will be on U.S.-China trade talks which are expected to take place in London on Monday. President Donald Trump announced Friday that Treasury Secretary Scott Bessent and two other Trump administration officials will meet with their Chinese counterparts in the capital as efforts to negotiate a trade deal continue. In other news, CNBC will be at London Tech Week this week with Nvidia CEO Jensen Huang set to deliver a keynote speech on Monday morning. There are no other major earnings or data releases due. — Holly Ellyatt Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group's IPO, in New York City, U.S., June 5, 2025. Brendan McDermid | Reuters U.S. equity futures were mostly flat overnight, with the S&P 500 trading near a record high and a busy week of potential market-moving news ahead. U.S, inflation data is expected to be a key topic later in the week. The latest consumer price index is due out on Wednesday, followed by the producer price index on Friday. Traders will be looking for clues about how the current tariff rates are affecting the economy. — Holly Ellyatt, Amala Balakrishner, Jesse Pound
Yahoo
2 hours ago
- Yahoo
Morning Bid: Markets pin hopes on London trade talks
A look at the day ahead in European and global markets from Rocky Swift Optimism abounds in the markets that the United States and China will reach a rapprochement in London today, after a phone call last week between leaders of the world's two largest economies turned down the heat on their protracted rift over trade. Both sides have strong incentives to ratchet down the rhetoric and find agreement as their economies remain tightly linked, although U.S. President Donald Trump has shown interest in decoupling them. The market reacted favourably on Friday to U.S. jobs data that showed less of a slowdown than feared, temporarily easing concerns about the trade war's fallout. But that was counterbalanced today when China's dour producer price data added to evidence that the spat is taking its toll. Asian shares rebounded sharply on Monday, reacting to Friday's exuberance on Wall Street. Equity futures pointed to a slightly lower open in Europe, while U.S. stock futures, the S&P 500 e-minis, slid 0.2%. On the trade front, representatives from the U.S. and China, due to meet at a still undisclosed location in London, will attempt to revive a preliminary trade agreement reached in Geneva last month. Trump is threatening to impose triple-digit tariffs on Chinese goods, while Beijing's key leverage is its near stranglehold on rare earth minerals that are critical to many high-tech sectors. Perhaps persistence is the key. Japan's chief trade negotiator Ryosei Akazawa is planning a sixth round of talks in Washington this week, Kyodo News reported. The economic and earnings slate is practically empty today. The next major figures to watch out of the U.S. will be inflation data on Wednesday, followed later in the week by producer price figures, weekly jobless claims and the University of Michigan report on consumer sentiment. The Fed is in a blackout period ahead of its June 18 policy decision. The markets were also keeping an eye on events in Los Angeles, where National Guard troops are facing down protesters demonstrating over Trump's immigration policies. Videos showed part of a major freeway in the city blocked by activists. California on its own is the world's fourth-largest economy, exceeding Japan's gross domestic product, and Trump deployed guardsmen to its biggest city to counteract what the White House described as "chaos, violence and lawlessness". Governor Gavin Newsom called Trump's reaction "the acts of a dictator". Key developments that could influence markets on Monday: - U.S. wholesale inventory data for April. - Mexico reports inflation and producer price data for May. Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here. (By Rocky Swift; Editing by Edmund Klamann)
The Hill
3 hours ago
- The Hill
Rand Paul slams Graham's push for Russian sanctions as ‘self-defeating economic warfare'
Sen. Rand Paul (R-Ky.) slammed Sen. Lindsey Graham's (R-S.C.) push for Russian sanctions, calling his bill 'self-defeating economic warfare.' Graham's sanctions bill on Russia would impose a 500 percent tariff on imports from any country that buys Russian oil, gas, uranium and other products. The legislation has more than 80 co-sponsors in the Senate, potentially making it veto-proof. But GOP senators are waiting on President Trump to move ahead with the legislation, and Trump said this week he hasn't even looked at it. Trump has also said he doesn't want to undermine the chances of a peace deal between Russia and Ukraine. Paul, in a series of posts on X on Saturday, said the bill would be ineffective and backfire against efforts to achieve peace, as the war between Russia and Ukraine continues in its fourth year. 'The Graham bill would derail President Trump's efforts to negotiate an end to the war in Ukraine. Self-defeating economic warfare is no way to achieve peace,' Paul said on X. 'This bill won't force China or India to change behavior, but it will impose an effective embargo on ourselves that will hurt American families,' he said. Paul also argued that the bill could hurt U.S. allies and raise gas prices. 'The Graham bill could raise tariffs on allies like Israel and Taiwan to 500 percent and potentially even higher. Why are we punishing our friends while pretending it'll hold Russia accountable? This isn't strategy—it's economic self-sabotage,' he wrote. 'Cutting off Russian oil takes a major source of supply off the market, resulting in higher gas prices. Analysts warned that a U.S. ban on Russian oil could cause prices to hit $160–$200 a barrel. That's $5+ gas at the pump,' he said. Graham, this past week, sought to address some of those concerns by proposing a carveout for his bill to exempt countries that aid in Ukraine's defense. The carveout could help insulate countries in Europe that still import Russian gas and have provided military support for Ukraine, as well as other U.S. partners that have straddled the line between maintaining ties with Moscow and providing assistance to Kyiv. 'A lot of countries still buy Russian oil and gas but less. Some European countries still have relationships with Russia, but they've been very helpful to Ukraine. So I want to carve them out,' Graham told reporters Wednesday. 'I tell China, if you don't want to have a 500 percent tariff, help Ukraine.'
