European stocks closed lower Monday, swaying between small gains and losses and tracking moves in the U.S. dollar and oil prices. “After three weeks of momentous macro moments things slow down as March begins to wrap up,” wrote Connor Campbell, financial analyst, at Spreadex, in a Monday note.
The Federal Reserve’s softer approach on interest-rate hikes may have restored some bonhomie to the beaten-down stock market, but a continuing profits recession could crash the party before it even gets started.
U.S. stocks mustered small gains on Monday, but climbed enough to see the Dow log its longest win streak in months, while the S&P 500 reached its best close since late 2015. Monday’s moves came amid a few high-profile mergers, including a sweetened bid for Starwood Hotels & Resorts World by Marriott International Inc. Merger activity can deliver a boost to Wall Street sentiment.
Asian markets were quiet Tuesday, except for gains in Japan’s stocks. With the exception of Japan, stock markets in Asia wavered as few investors seemed inclined to make big bets ahead of the Good Friday holiday. The tepid session mirrors quiet trading overnight in U.S. stocks.
Based on MarketWatch materials
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