Europe set to follow global markets lower amid fears over U.S. deficit; EasyJet earnings ahead
London was the No. 2 most-visited city in the world for 2023, according to Euromonitor International.
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Good morning from London and welcome to CNBC's live blog covering the latest action in European markets as well as business news, analysis, earnings and data.
Here are the opening calls on Thursday:
European markets are expected to open lower, with London's FTSE seen opening down 43 points at 8,739, Germany's DAX 135 points lower at 23,984, the French CAC 40 down 48 points at 7,865 and Italy's FTSE MIB down 251 points at 40,331, according to data from IG.
— Holly Ellyatt
EasyJet passenger aircraft on the tarmac at London Southend Airport in Southend-on-Sea, U.K., on May 3, 2024.
Bloomberg | Getty Images
There are a couple of big earnings reports and data releases to look out for on Thursday:
Earnings are set to come from EasyJet , BT, British Land and Tate and Lyle on Thursday. Preliminary purchasing managers' index data will be released for France and the U.K.
CNBC will also be bringing you interviews from the Barclays leadership conference, focusing on energy, geopolitics and sector-specific challenges.
— Holly Ellyatt
Traders work on the floor of the New York Stock Exchange on May 21, 2025, in New York City.
Spencer Platt | Getty Images
European markets are expected to follow their global counterparts lower on Thursday as concerns grow over the U.S.' deepening budget deficit.
Asia-Pacific markets fell overnight, tracking declines on Wall Street as investor sentiment soured on fears that a new U.S. budget bill could substantially add to the country's debt.
U.S. stock futures were flat in overnight trading after markets stateside saw a sizable sell-off Wednesday as worries about a ballooning deficit deepened.
In regular trading, the blue-chip Dow slid more than 800 points, while the S&P 500 finished the day 1.6% lower. Equities were pressured by a sharp spike in Treasury yields amid concerns that a new U.S. budget bill would put even more stress on the country's already large deficit.
The rocky negotiations on Capitol Hill over tax and federal budget changes have become a fresh worry for investors after tariff headlines subsided.
— Holly Ellyatt, Yun Li, Lee Ying Shan
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