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European Shares Set To Rise In Early Trade
(RTTNews) - European stocks may open higher on Tuesday, with underlying sentiment likely to remain supported by firm U.S. stock futures and buying in beaten-down shares.
U.S. markets will resume trading later in the day after remaining closed on Monday for the Juneteenth holiday.
Asian stocks advanced, gold ticked higher and the dollar dipped slightly as investors braced for Fed Chair Jerome Powell's testimony on the bi-annual monetary policy report.
Bitcoin held just above $20,000 following problems at several major crypto firms.
Oil prices climbed, with WTI crude futures rallying more than 2 percent as the focus returned to tight supplies.
The United States is in talks with Canada and other allies to further restrict Russia's oil revenues by capping the price it would get for its crude, U.S. Treasury Secretary Janet Yellen said on Monday.
European stocks rebounded on Monday after seeing sharp losses the previous week on worries about a recession and bets of bigger interest-rate hikes from major central banks.
The pan-European Stoxx 600 index rose 1 percent despite French President Emmanuel Macron losing an absolute majority in the country's parliamentary election and ECB President Christine Lagarde reaffirming plans to raise the ECB's interest rates twice this summer.
The German DAX climbed 1.1 percent, France's CAC 40 index gained 0.6 percent and the U.K.'s FTSE 100 added 1.5 percent.
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