The European Central Bank cut its key interest rate on Thursday to boost an economy that’s struggling to grow as consumers burned by inflation warily eye price tags and businesses try to navigate political turmoil in leading economies France and Germany.
European stocks are expected to open in mixed territory Wednesday as global market jitters over AI tech rivalry between the U.S. and China eases.
Shares of ASML jumped 10.6% after the Dutch company reported better-than-expected fourth-quarter bookings of 7.088 billion euros ($7.39 billion). Its peers ASM International, BE Semiconductor and Infineon gained between 2.7% and 7.5%. Technology was the top winning sector, soaring 4.5%.
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Donald Trump's rapid move to ban a "digital dollar" has left the field wide open, observers say, for China and Europe to make their already-advanced central bank digital currency (CBDC) prototypes into global standard-setters.
European Central Bank President Christine Lagarde slapped down on Thursday a suggestion by her Czech colleague Ales Michl to include bitcoin among his country's official reserves.
Despite making similar moves in the recent past, the European Central Bank and the Federal Reserve are now at different junctures.
European shares reached a record high on Thursday, driven by industrials and technology stocks, as investors awaited the European Central Bank's monetary policy verdict, which is likely to include an interest rate cut.
The US Dollar trades flat after an uneventful Federal Reserve interest rate decision.
Yields on U.S. government debt were falling slightly Thursday morning as traders focused on data that showed economic growth slowing in the U.S. and stalling in three countries in Europe at the end of last year.
The Federal Reserve announces its decision on interest rates at 2 p.m. Fed Chair Jerome Powell speaks shortly thereafter. Live updates on stocks, bonds and markets, including the Dow Jones Industrial Average,