European markets down after PMI shows business activity surging; U.S. futures inches up

The German DAX DAX was down 0.59% and French CAC 40 also dipped 0.50% and the FTSE 100 was flat.

Jun 23, 2021 02:06 IST India Infoline News Service

European stocks slipped on Wednesday despite Purchasing Managers’ Indexes showing booming business growth in the eurozone.

The pan-European Stoxx 600 slipped with retail stocks dropping 0.9% while oil and gas added 0.9%. The German DAX DAX was down 0.59% and French CAC 40 also dipped 0.50% and the FTSE 100 was flat.

On the economy front, Powell sought to reassure investors on Tuesday, saying that the central bank will watch a broad set of job market data to assess the economic recovery from COVID-19, rather than rush to raise rates on the basis of fear of inflation.

Meanwhile, U.S. stock index futures were mildly higher during early morning trading on Wednesday, after the S&P 500 closed shy of a new record on Tuesday with Asian markets largely higher in today’s session.

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