European shares opened higher on Thursday after a mixed trading session in Asia, with the S&P 500 reaching another record close. Germany’s DAX, Paris’ CAC 40, and London’s FTSE 100 all saw gains in early trading.
The future for the S&P 500 was slightly lower, while the Dow Jones Industrial Average remained stable. The dollar continued to strengthen against the Japanese yen and Chinese yuan, causing concern for regulators in Tokyo and Beijing.
In Tokyo, the Nikkei 225 and the Kospi in Seoul saw losses, while Chinese markets rebounded from previous losses. Hong Kong’s Hang Seng index and Shanghai Composite both made gains, and Australia’s S&P/ASX 200 jumped.
In the US, the S&P 500 and Dow Jones Industrial Average reached record highs, with Merck and Trump Media & Technology Group seeing significant gains. GameStop, however, tumbled after reporting a drop in revenue.
The upcoming highlight for markets will be the release of the latest monthly update on US consumer spending, which will include the preferred inflation measure for the Federal Reserve. The S&P 500 is on track for a fifth straight winning month, despite concerns about inflation and interest rates.
Overall, traders expect the Federal Reserve to begin cutting interest rates in June, with stocks performing best when more than half of the world’s central banks are easing rates. In other trading, US benchmark crude oil prices rose in early trading.
The global markets continue to show resilience and optimism, despite ongoing concerns about inflation and interest rates. Investors will be closely watching for any further developments in the coming days.
