5MRD

Overseas Trading: Inflation Data Sends Europe Into a Tailspin

Eurozone inflation fell to negative 0.2% in April

Apr 29, 2016 at 8:39 AM
facebook X logo linkedin


Asian markets fell today, as the Bank of Japan's (BoJ) policy decision and a shocking announcement from activist investor Carl Icahn prompted an overnight sell-off in U.S. stocks. Hong Kong's Hang Seng led the path lower, shedding 1.5% amid drops in energy and property stocks. Elsewhere, South Korea's Kospi gave back 0.3%, while China's Shanghai Composite settled at a 0.2% loss. While Japan's Nikkei was closed for holiday, the yen continued its rise against the U.S. dollar.

European stocks are sharply lower at midday, as stocks react to a freshly released batch of economic reports. Specifically, first-quarter gross domestic product (GDP) for the eurozone rose by a more-than-expected 0.6%, while the unemployment rate for the currency bloc fell to 10.2% in March -- its lowest level since 2011. Additionally, eurozone inflation dropped to negative 0.2% in April. Against this backdrop, the French CAC 40 is off 1.7% -- even after first-quarter GDP beat the consensus estimate -- the German DAX is down 1.3%, and London's FTSE 100 is 0.6% lower.

overseas stocks April 29 

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

$40 Gets You 4 High-Conviction Trades. Let's Go.

We just booked back-to-back double-digit gains on Celsius and Palantir in Trade of the Week, and we’re eyeing even bigger wins!

Every week starts with a fully defined options trade straight from the desk Schaeffer’s Senior V.P. of Research, Todd Salamone, backed by 30+ years of proven market experience and disciplined risk management.

Right now, you can get 4 total trades over the next 4 weeks for $40 – just $10 per trade.

👉 Sign Up Now to Receive Your First Trade!

tesla
 
 
 
 

Follow us on X, Follow us on Twitter