This is CNBC’s live blog covering European markets.
European markets are expected to open in mixed territory Tuesday amid tentative optimism that there will be some respite from U.S. President Donald Trump’s tariffs regime.
The U.K.’s FTSE 100 index is expected to open 17 points higher at 8,136, Germany’s DAX up 15 points at 20,922, France’s CAC 40 points lower at 7,221 and Italy’s FTSE MIB 135 points higher at 34,180, according to data from IG.
Earnings are set to come from Ericsson and Publicis on Tuesday, and data releases will include European industrial production figures, the latest U.K. unemployment data and the German ZEW survey of economic sentiment.
Regional markets started the week on a positive note, closing higher Monday as traders digested news of a U.S. tariff exemption for some tech items.
Trump on Sunday said he would be announcing the tariff rate on imported semiconductors over the next week, NBC News reported. The news boosted sentiment on Wall Street on Monday, and Asia-Pacific markets mostly rose overnight, as a result.
Questions remain over exactly how long Trump’s wider pause on his full “reciprocal tariff” plan will last, however, and how various countries will seek to or be able to negotiate without resorting to their own retaliatory action. The EU last week paused its own countertariffs for 90 days in order to engage in talks.
Fed’s Waller sees tariff inflation impact as ‘transitory’
Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City on Nov. 12, 2024.
Federal Reserve Governor Christopher Waller said Monday that inflation from Trump’s tariffs likely will be “transitory,” and indicated that interest rate reductions are still on the table.
In a speech delivered in St. Louis, the central bank official broke down tariffs into two scenarios, one in which they are higher and longer lasting and the other whether they are negotiated lower. In either case, Waller said rate cuts are likely to boost growth under the higher-tariff scenario or as “good news” reductions under the reduced level.
“I can hear the howls already that this must be a mistake given what happened in 2021 and 2022. But just because it didn’t work out once does not mean you should never think that way again,” Waller said of the “transitory” call.
— Jeff Cox
European markets: Here are the opening calls
European markets are expected to open in mixed territory Tuesday.
The U.K.’s FTSE 100 index is expected to open 17 points higher at 8,136, Germany’s DAX up 15 points at 20,922, France’s CAC 40 points lower at 7,221 and Italy’s FTSE MIB 135 points higher at 34,180, according to data from IG.
Earnings are set to come from Ericsson and Publicis on Tuesday, and data releases will include European industrial production figures, the latest U.K. unemployment data and the German ZEW survey of economic sentiment.
— Holly Ellyatt
