BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open higher on Tuesday after major Wall Street indexes scored record closing highs overnight despite lingering concerns about the coronavirus and inflation.
Asian markets followed Wall Street higher, heading into the U.S. earnings season.
The 'minutes' from the Federal Reserve's last policy meeting due on Wednesday and the December employment report on Friday also remained on investors' radar as global weekly Covid-19 cases surpassed 10 million.
China's manufacturing sector rebounded in December as firms signaled the strongest growth in output for a year amid a renewed uptick in total sales, survey results from IHS Markit showed earlier in the day.
The Caixin manufacturing Purchasing Managers' Index rose to 50.9 in December from 49.9 in November. The reading was forecast to rise marginally to 50.
The U.S. dollar weakened slightly, but held close to the one-week high against the yen on expectations of an earlier-than-expected rate hike.
Gold recovered slightly after seeing its worst-selloff in six weeks in the previous session as U.S. Treasury yields surged across tenors. Oil held steady ahead of a meeting OPEC+ producers.
U.S. stocks rose on the first trading session of the New Year Monday, shrugging off concerns about rising Covid-19 cases around the world.
The Dow gained 0.7 percent and the S&P 500 rose 0.6 percent to reach record closing highs, while the tech-heavy Nasdaq Composite climbed 1.2 percent.
European stocks also ended Monday's session on a strong note despite the prospect of higher interest rates and lingering Covid-19 concerns.
The pan European Stoxx 600 added half a percent. The German DAX climbed 0.9 percent to close at a six-week high and France's CAC advanced 0.9 percent.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
