{"id":7638,"date":"2021-02-24T05:40:28","date_gmt":"2021-02-24T05:40:28","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/02\/24\/european-shares-poised-for-mixed-open-2\/"},"modified":"2021-02-24T05:40:28","modified_gmt":"2021-02-24T05:40:28","slug":"european-shares-poised-for-mixed-open-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/02\/24\/european-shares-poised-for-mixed-open-2\/","title":{"rendered":"European Shares Poised For Mixed Open"},"content":{"rendered":"
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European stocks are seen opening on a mixed note Wednesday after Federal Reserve Chairman Jerome Powell’s remarks to U.S. lawmakers contained no surprises.<\/p>\n

Powell will have another opportunity to address several issues such as interest rates, job losses and stimulus during his second day of testimony in Congress later today. <\/p>\n

Asian markets<\/span> are moving lower as reflation fears persisted and Iran rejected direct negotiations with the U.S. on the nuclear deal as long as American sanctions remain in place.<\/p>\n

Chinese and Hong Kong stocks led regional losses as U.S. President Joe Biden showed readiness to meddle the Canadian citizens’ evacuation from Beijing.<\/p>\n

There is some positive news on the vaccine front, with two separate studies published in the U.K. revealing that vaccines against Covid-19 are effective in cutting disease transmission and hospitalizations from the first dose.<\/p>\n

The dollar hovered near a three-year low against the British pound while oil prices fell after industry data showed U.S. crude inventories unexpectedly rose last week.<\/p>\n

Revised quarterly national accounts from Germany and business<\/span> sentiment figures from France are due later in the session, headlining a light day for the European economic news. <\/p>\n

Across the Atlantic, Powell’s second day of testimony may attract some attention along with a report on new home sales in the month of January. <\/p>\n

U.S. stocks pared earlier losses to end mixed overnight as investors cheered reassuring comments from Powell on inflation and interest rates. <\/p>\n

Powell reiterated interest rates will remain at near-zero levels and the Fed will continue its asset purchases at the current rate until “substantial further progress” has been made toward its goals of maximum employment and price stability.<\/p>\n

The Dow Jones Industrial Average and the S&P 500 edged up around 0.1 percent, while the tech-heavy Nasdaq Composite slipped half a percent. <\/p>\n

European markets closed mostly lower on Tuesday after a choppy session on concerns over rising bond yields.<\/p>\n

The pan European Stoxx 600 eased 0.4 percent. The German DAX dropped 0.6 percent, while France’s CAC 40 index and the U.K.’s FTSE 100 both inched up 0.2 percent. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n