European shares and U.S. futures stocks inched lower during the course of the session on Wednesday, while Asian shares were mixed after investors dived into the latest batch of corporate earnings release for further signs on whether major Western bourses can outstrip recent highs.
The Stoxx Europe 600 declined 0.1% at the close of trade on Tuesday from its highest level since August 2015. Meanwhile, future markets stood at 0.1% in the pre-market session, which weighed on the S&P 500.
Consequently, markets were seen unresponsive with the unexpected firing of the Federal Bureau of Investigation director James Comey. The U.S. futures losses came in after the report, dragging the greenback.
The US dollar index, which gauges the greenback against a basket of major currencies lost 0.1% just recently.
Meanwhile, major stock markets climbed sharply as corporate earnings have a much better-than-expected results. Based on the reports, most U.S. companies exceeded estimates, with the majority of the S&P 500.
Forward Marching: Europe
In a statement on Tuesday, the new French president Emmanuel Macron said that he wanted Europe to be "conquering" and "march forward".
During the commemoration of the 1950 Schuman Declaration, Macron said that the European Union was “essential”.
Setting aside the Brexit or anti-EU forces like Marine Le Pen, whom Macron had beaten in the French presidential election on Sunday, he said that the EU could not "remain frozen for eternity".
"If we want to be up to this anniversary … we must build again our Europe and go further," he said. Macron added that he did not want a "naive" Europe that is "sometimes inefficient and insufficient", nor to "go back to an ideal Europe".
Asian Stocks Mixed
Shares in Asia were mixed during the session on Wednesday as market participants digested corporate earnings, following U.S. President Donald Trump’s unexpected dismissal of FBI Director James Comey.
Further, investors’ sentiment were undermined due to heightened tensions between North Korea and the U.S.
China’s Shanghai Composite index declined 27.74 points or 0.90 percent to settle at 3,052.78 after inflation data weighed on the economy.
Inflation data rose to a 3-month high in April, while factory gate inflation held steady on disappointing commodity prices, according to the National Bureau of Statistics data published today.
Hong Kong’s Hang Seng index edged higher by 126 points or 0.51 percent at 25,015 at the close of trade.
A much better-than-expected corporate earnings had shaken the markets, following the victory of the new French president Emmanuel Macron. It is therefore expected that investors will eye on European stocks and wait for clues that could give a lift in the economy.
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