![35-year-old American moved to Chengdu and lives on $30,000 a year: ‘[It’s] poverty in America, but in China I’m living large’](https://image.cnbcfm.com/api/v1/image/108167583-1751548516689-chinacelia1.jpg?v=1751549197&w=1920&h=1080 "35-year-old American moved to Chengdu and lives on $30,000 a year: ‘[It’s] poverty in America, but in China I’m living large’")
Here are the opening calls
London was the No. 2 most-visited city in the world for 2023, according to Euromonitor International.
Karl Hendon | Moment | Getty Images
Good morning from London and welcome to CNBC’s live blog covering all the action in European financial markets, as well as business news, analysis, earnings and data.
Futures data from IG on Tuesday morning suggests London’s FTSE will open 6 points higher at 8,787, Germany’s DAX 42 points higher at 23,984, France’s CAC 40 up 6 points at 7,741 and Italy’s FTSE MIB up 106 points at 40,073.
The specter of U.S. tariffs has returned to the fore for markets this week, after President Donald Trump said Friday that he will double tariffs on steel imports from 25% to 50% on June 4.
Investors will also be monitoring any developments in trade talks between the U.S. and China, which soured last week. National Economic Council Director Kevin Hassett suggested Sunday that Trump and China’s President Xi Jinping could have a conversation as soon as this week
— Holly Ellyatt
What to keep an eye on today
A cafe bar near the Eiffel Tower on Oct. 5, 2020, in Paris, France.
Kiran Ridley | Getty Images News | Getty Images
Investors in Europe will be keeping a close eye on the latest inflation data from the euro zone.
Flash data from the single currency area is expected to show inflation cooled toward 2% in May, paving the way for the European Central Bank to deliver a widely expected 25 basis point rate cut at its next meeting on Thursday.
Euro zone inflation was unchanged at 2.2% in April, missing expectations for a move lower.
— Holly Ellyatt
What’s been going on in Asia-Pacific and U.S. markets overnight?
Traders work on the floor of the New York Stock Exchange on June 2, 2025.
NYSE
U.S. stock futures slipped on Tuesday morning after the major averages began June’s trading on a positive note.
In the regular session, the S&P 500 climbed 0.41%. The Nasdaq Composite advanced 0.67%, and the Dow added 35.41 points, or 0.08%.
Stocks ended Monday higher despite rising tensions between China and the United States, with Beijing countering President Donald Trump’s accusations that it had violated a temporary trade agreement. Investors had grown hopeful that the two countries could work out a trade deal, but this latest development points to negotiations taking a turn for the worse.
Meanwhile, Asia-Pacific markets mostly rose overnight after China’s manufacturing activity in May shrank at the fastest pace since September 2022, a private survey showed.
The Caixin/S&P Global manufacturing purchasing managers’ index came in at 48.3, missing Reuters’ median estimate of 50.6 and dropping sharply from 50.4 in April, as a sharper decline in new export orders highlighted the impact of prohibitive U.S. tariffs.
— Holly Ellyatt, Amala Balakrishner and Lisa Kailai Han
