US futures and European stocks advanced
US futures and European shares advanced of the Federal Reserve meeting, where policymakers will continue to guide rate hikes.
The S&P 500 and Dow contracts were higher after the major stocks were lower in the previous session. US regional lenders PacWest Bancorp and Western Alliance Bancorp were downgraded in trading.
Another sign of caution is that defensive sectors such as consumer staples and beverage companies led European stocks to advance, while energy stocks fell.
Investors are closely watching the Fed’s comments on the path of interest rates today. Traders anticipate that the Federal Reserve will increase lending rates by 25 basis points at today’s assembly before conveying a temporary cessation in its rising movement that is bearish.
European markets reversed Wednesday’s negative sentiment as global investors braced for the US Federal Reserve’s monetary policy decision.
European Banking Sector Falls Amid US Volatility
The pan-European Stoxx 600 index advanced 0.33%, with most sectors in positive territory. The benchmark index fell by 1.23% yesterday and fell to its weakest level last month.
The European banking sector was initially higher but fell to a 0.32% decline amid US regional banking volatility.
Oil and gas stocks extended Tuesday’s sharp losses as oil prices fell further, down another 1.12%. Household goods inventories rose 1.12% as food and beverage inventories increased 1%.
Asia-Pacific markets were trading significantly lower, while US stock futures were higher.
The Dutch-headquartered company reported first-quarter net income of 47.22 billion euros. He also confirmed his leadership throughout the year, launched a 1.52 billion euro share buyback, and confirmed an ordinary dividend of 1.35 euros per share would be paid to shareholders on Thursday.
Shares of Milan-based UniCredit advanced 6.62% as investors reported its first-quarter results, which showed a 56.54% jump in profit.