Silver slumps over 6.5% as US inflation fears hit precious metals - Anadolu Ajansı

US stock market futures, specifically the S&P 500, are showing an upward trend as inflation expectations cool. This development could ease pressure on the Federal Reserve to raise interest rates and improve investor sentiment.

EU Auto Giants Call For 'Made In Europe' Incentives Amid Rising Chinese Competition Europe's largest automakers are stepping up efforts to secure stronger support for domestic vehicle manufacturing as competition from Chinese electric vehicle producers intensifies. Renault, Volkswagen, and Stellantis have jointly urged EU policymakers to introduce rules that more heavily reward cars developed and produced within Europe, according to FT. The companies are advocating for a straightforward local content requirement under which vehicles sold as European would need to source the majority of their components from within the EU and closely associated European countries. They argue that industrial policy should encourage not only final assembly in Europe but also engineering, research, and product development activities. FT writes that the proposal forms part of a broader European debate over how to rebuild industrial competitiveness while accelerating the transition to electric vehicles. The automakers are also seeking wider incentives for EVs manufactured in Europe, arguing that higher labor and energy costs put local producers at a disadvantage compared with rivals operating in lower cost regions.

US stock market futures, specifically the S&P 500, are climbing amidst concerns over sticky inflation and rate jitters.

The Fed has unveiled dramatic measures to ease market strain caused by the virus.

Markets are closely watching Fed Governor Michelle Bowman's first Federal Reserve meeting for any new signals on interest rates.

Gold prices have surged by over 2% to surpass $4,300 following news of a potential peace deal between the US and Iran, which is easing inflation fears.