European markets higher with U.S. debt ceiling talks in final stages

were lower as investors monitored the debt ceiling talks and waited for data releases on personal consumer expenditures, personal income, consumer spending and sentiment and durable goods.Prices in U.K. stores are rising at a record pace in a sign that the cost-of-living crisis is far from over.U.K. retail sales volumes were up 0.5% on the prior month in April, the Office for National Statistics said Friday.

Ashley Webb, U.K. economist at Capital Economics, said better weather, rises in state pension, welfare payments and minimum wage, and a government cost-of-living payment to low-income households likely boosted the monthly figure. "Overall, while the outlook for retail sales appears to be improving, we expect further rises in interest rates, from 4.50% now to a peak of 5.25%, and for them to stay high until late next year. That will mean real consumer spending is more likely to decline later this year than rise," Webb added.European markets are expected to open mixed Friday.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European markets head for cautiously higher open as debt ceiling talks overshadow sentimentEuropean markets are heading for a cautiously higher open Thursday, reversing negative sentiment seen yesterday on the back of ongoing U.S. debt ceiling talks.
Source: CNBC - 🏆 12. / 72 Read more »

Chipmakers help European shares buck macro gloomEuropean stocks steadied on Thursday after their worst two-day selloff since March, as investors balanced concerns over the U.S. debt ceiling standoff and a global economic slowdown with optimism from upbeat corporate earnings.
Source: Reuters - 🏆 2. / 97 Read more »

European shares slip as macro gloom weighs; luxury stocks reboundEuropean stocks slipped on Thursday as concerns over the U.S. debt ceiling standoff and a global economic slowdown resurfaced and outweighed initial optimism from upbeat corporate earnings, while luxury stocks stabilized after a bruising selloff.
Source: Reuters - 🏆 2. / 97 Read more »