BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are seen opening a tad lower on Tuesday as investors monitor the latest developments on U.S.-China trade front and look ahead to upcoming monetary policy announcements from several central banks, including the European Central Bank, the Federal Reserve and the Bank of Japan.
Investors also await earnings reports from major U.S. technology companies this week, including Microsoft, Alphabet, Meta Platforms, Amazon and Apple.
Media reports suggest that Amazon is preparing to lay off 30000 employees in what could be the biggest corporate downsizing in its history.
Asian markets were mixed in cautious trade after recent gains. The Association of Southeast Asian Nations (ASEAN) and China today signed an upgraded version of their Free Trade Agreement (FTA) during the summit in Kuala Lumpur, Malaysia, amid global trade tensions.
Ahead of talks between Donald Trump and Xi Jinping, Chinese Premier Li Qiang denounced 'unilateralism' and said the world should not return to 'the law of the jungle'.
Trump said en route to Japan that he was hopeful of a deal when he sees Xi on Thursday.
The dollar edged lower against major currencies amid hopes the Fed will cut its benchmark rate by 25 basis points on Wednesday.
Gold extended losses after plunging more than 3 percent to trade below $4000 an ounce in regular trading on Monday.
Oil extended a two-day drop as investors weighed signs of a glut and the fallout from U.S. sanctions on Russian producers.
Overnight, U.S. stocks hit new record highs ahead of a pivotal week featuring the Federal Reserve's interest rate decision, a barrage of big tech earnings and Thursday's high stakes meeting between President Trump and his counterpart Xi.
On his way to Japan, Trump expressed optimism about reaching a trade deal with China after signing separate trade and mineral agreements with his Malaysian and Cambodian counterparts.
The S&P 500 rallied 1.2 percent to close above 6,800 for the first time in its strongest three-day rally since May.
The tech-heavy Nasdaq Composite surged 1.9 percent as Qualcomm announced new chips for AI data centers. The Dow gained 0.7 percent.
European stocks edged up slightly on Monday as U.S.-China trade tensions eased and focus shifted to upcoming central bank meetings.
The pan-European Stoxx 600 added 0.2 percent. The German DAX rose 0.3 percent, France's CAC 40 inched up by 0.2 percent and the U.K.'s FTSE 100 finished marginally higher.
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