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European stocks may open on a positive note Monday, with trading volumes likely to remain thin amid the Independence Day holiday in the United States. <\/p>\n
Asian markets<\/span> traded mixed after coronavirus clusters emerged in eastern China over the weekend, posing a new threat to China’s economic recovery.<\/p>\n The dollar held firm on growth worries while gold inched higher in choppy trade, helped by lower Treasury yields. Oil prices slipped in Asian trade after rising more than 2 percent in the previous session.<\/p>\n Traders await the FOMC meeting minutes, key speeches by Fed officials and the June jobs report this week for clues about the long-term outlook for the U.S. economy<\/span>.<\/p>\n U.S. hiring is expected to have slowed in June while the minutes from the Fed’s June meeting are almost certain to sound hawkish. <\/p>\n Markets currently see a 90 percent chance of a 75-basis point rate rise in the Fed Funds rate at the July meeting and a 3.5 percent terminal rate by year end.<\/p>\n Closer home, Destatis releases Germany’s foreign trade figures later in the day. Exports and imports are forecast to grow 0.9 percent each on a monthly basis in May.<\/p>\n Eurostat is slated to publish euro area producer prices for May. Economists expect producer price inflation to ease to 36.7 percent from 37.2 percent in April.<\/p>\n U.S. stocks rose sharply on Friday and Treasury yields extended recent decline, as weak manufacturing and construction spending data helped raise expectations that the Federal Reserve might opt for a less aggressive pace of rate hikes in the months ahead.<\/p>\n The Dow and the S&P 500 both climbed around 1.1 percent while the tech-heavy Nasdaq Composite shed 0.9 percent.<\/p>\n European stocks ended narrowly mixed on Friday after the release of worrisome manufacturing and inflation data. The pan European Stoxx 600 closed flat with a negative bias.<\/p>\n The German DAX edged up 0.2 percent and France’s CAC 40 index inched up 0.1 percent, while the U.K.’s FTSE 100 finished marginally lower. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n