BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open lower on Friday after Reuters reported that the idea of a tariff rollback has drawn fierce opposition from many of Trump's advisers.
There is a divide within the administration over whether rolling back tariffs will give away U.S. leverage in the negotiations, the report quoted current and former administration officials as saying.
Asian markets traded mostly lower amid concern about possible opposition within the White House. However, underlying sentiment remained supported somewhat after data showed China's exports and imports contracted less than expected in October.
Exports fell 0.9 percent year-on-year in dollar terms, falling for the third straight month. Economists had expected a 3.9 percent fall following September's 3.2 percent contraction.
Imports declined 6.4 percent from a year earlier, slower than the forecast of 7.8 percent fall. This was the sixth consecutive decrease reflecting subdued demand.
Gold remained subdued after falling nearly 2 percent in the previous session. Oil prices fell slightly after rising sharply on Thursday.
Foreign trade data from Germany and industrial production figures from France are due later in the day, headlining a light day for the European economic news.
Across the Atlantic, a reading on consumer sentiment along with news regarding a potential U.S.-China trade deal may sway sentiment.
U.S. stocks hit record highs overnight after the U.S. and China reportedly agreed to remove existing tariffs on each other's goods in phases.
The Dow Jones Industrial Average climbed 0.7 percent and the tech-heavy Nasdaq Composite added 0.3 percent to reach fresh record closing highs while the S&P 500 rose 0.3 percent.
After the closing bell, Walt Disney reported quarterly earnings that beat the consensus estimate. Activision Blizzard Inc. posted lower quarterly revenue and narrower profits while GoPro's revenue and profit topped forecasts. News Corp swung to a net quarterly loss.
European markets ended higher on Thursday amid fresh optimism that the U.S. and China would soon complete part one of a wider agreement.
The pan European Stoxx 600 gained 0.4 percent. The German DAX climbed 0.8 percent, France's CAC 40 index rose 0.4 percent and the U.K.'s FTSE 100 inched up 0.1 percent.
Copyright RTT News/dpa-AFX
© 2019 AFX News
