European stocks are seen opening narrowly mixed on Friday, with movements in the bond market and the Russia-Ukraine war updates likely to be in focus.
Upbeat prints of Japan’s inflation data fueled yields on the Japanese government bonds. Yields on the U.S. 10-year Treasury note stayed close to their 2019 highs after data showed U.S. weekly jobless claims fell to their lowest level in 52 years.
U.S. President Joe Biden will travel to a town near the Polish-Ukrainian border today as Russia continues its bombardment.
On Thursday, Biden and Western allies pledged new sanctions on Russia but there was no mention of energy.
We are not at war with ourselves, Belgian Prime Minister Alexander De Croo said at the summit in Brussels, reflecting the position of EU nations like Germany, Austria and the Netherlands.
Meanwhile, Russia wants to end Ukraine war by May 9, the day that is widely celebrated in Russia as the day of victory over the Nazi Germany, media reports said citing intelligence sources.
Asian markets traded mixed and the dollar was down, while oil prices fluctuated after reports that the United States and allies considered releasing more oil from storage to cool markets.
The day’s European economic calendar is relatively light. Across the Atlantic, comments by several Fed officials as well as reports on consumer sentiment and pending home sales may attract attention.
Overnight, U.S. stocks rallied as commodity prices cooled and solid jobless claims data boosted investor confidence in the economic recovery.
The Dow climbed 1 percent, the tech-heavy Nasdaq Composite surged 1.9 percent and the S&P 500 added 1.4 percent.
European stocks ended Thursday’s session on a mixed note as Western leaders promised to step up support for Ukraine and expanded sanctions on Russia at a special NATO summit.
Inflation worries also weighed after ECB board member Frank Elderson said the ECB could raise rates this year. The pan European Stoxx 600 eased 0.2 percent.
The German DAX slipped 0.1 percent and France’s CAC 40 index dipped 0.4 percent while the U.K.’s FTSE 100 inched up marginally.
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