Gary is off this week – and Econintersect is therefore providing the market open from our syndication partner Investing.com:
European stocks pushed lower on Tuesday, as renewed concerns over the handling of financial troubles in peripheral euro zone countries weighed on market sentiment.
During European afternoon trade, the EURO STOXX 50 retreated 0.77%, France’s CAC 40 declined 0.63%, while Germany’s DAX 30 tumbled 1.11%.
Stocks came under pressure after Portugal’s Finance Minister Vitor Gaspar resigned late Monday, after recent figures indicated that the country’s budget deficit widened in the first quarter.
Separately, euro zone officials said Tuesday that Greece has three days to reach an agreement with its troika of lenders, in order to secure the next tranche of its bailout funding at a meeting of the eurogroup of finance ministers next Monday.
Meanwhile, investors were looking ahead to Friday’s U.S. nonfarm payrolls data, for further clues on when the Fed may decide to unwind its USD85 billion-a-month stimulus program.
U.S. stocks opened mixed on Tuesday, as investors eyed the release of upcoming U.S. data amid ongoing uncertainty over the future of the Federal Reserve’s stimulus program.
During early U.S. trade, the Dow Jones Industrial Average added 0.12%, the S&P 500 index rose 0.29%, while the Nasdaq Composite index edged up 0.26%.
Markets were jittery amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program.
Investors were awaiting Friday’s U.S. nonfarm payrolls data, with good data set to bolster the dollar further.
