(RTTNews) – European stocks are seen opening broadly lower on Tuesday as cash trading resumes following the Labour Day weekend in the United States.
U.S. stock futures traded lower after a U.S. appeals court ruled late Friday that most of President Donald Trump’s tariffs are illegal, dealing a big blow to his trade agenda.
As the legal battel rages over tariffs, Investors now look forward to the latest jobs numbers, inflation data and the Federal Reserve’s rate call for directional cues.
Economists currently estimate that nonfarm payrolls will come in at 74,000 in August, not far from the mark of 73,000 in July.
Questions over the Fed’s independence remain, with ECB chief Christine Lagarde warning that if Trump were to undermine the independence of the Federal Reserve, it would represent a “very serious danger” to the global economy.
In Europe, French Prime Minister Francois Bayrou has declared that the “fate of France” is on the line in a confidence vote scheduled for September 8, 2025.
As war rages on in Ukraine, U.S. Treasury Secretary Scott Bessent said that all options were on the table regarding sanctions on Russia for its continued war in the country.
The Trump administration has approved the sale of 3,350 Extended Range Attack Munitions (ERAM) missiles to Ukraine, providing a potentially powerful tool to Kyiv as it continues to face a relentless assault by Russia.
Kremlin foreign policy adviser Yuri Ushakov said that there are no concrete plans for a trilateral meeting between the presidents of Russia, Ukraine and the U.S, contradicting Trump’s words about what was agreed at the Alaska meeting.
Asian markets were mostly lower, giving up early gains as technology stocks slipped after a powerful rally.
Gold reached a record high to trade around $3,500 per ounce as traders positioned for an interest-rate cut by the Federal Reserve as early as this month. Oil edged up before an upcoming OPEC+ meeting.
U.S. stock markets were closed on Monday for Labour Day.
European markets closed higher on Monday, with defense and healthcare stocks leading the surge.
The pan European STOXX 600 edged up by 0.2 percent. The German DAX climbed 0.6 percent while France’s CAC 40 and the U.K.’s FTSE 100 both finished marginally higher.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#European #Shares #Open