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 twitter 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.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners