BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are seen opening on a sluggish note Tuesday as investors await key U.S. economic data for direction.
Trading later in the day may be impacted by reaction to readings on U.S. retail sales, pending home sales, producer prices and consumer confidence.
Ahead of Thanksgiving and Black Friday, these reports may provide valuable insights into inflation pressures, consumer spending patterns and overall economic sentiment in the world's largest economy.
U.S. stock futures edged lower after major averages rebounded overnight, driven by strength in the artificial intelligence trade and renewed hopes of a Federal Reserve interest rate cut.
According to the CME FedWatch Tool, markets currently price in a more than 80 percent chance of a quarter percentage point cut from the U.S. central bank in December.
In extended trading, Alphabet shares rose while those of Nvidia and AMD declined following reports that Meta is considering using Alphabet's custom chips for its data centers.
Asian stocks were broadly higher, with Chinese and Hong Kong markets leading regional gains after U.S President Donald Trump said that he will travel to China in April at the invitation of Chinese President Xi Jinping.
The dollar index was steady, and oil ticked lower on oversupply concerns, while gold edged up slightly after rising nearly 2 percent in the prior session.
Overnight, U.S. stocks surged to start the shortened Thanksgiving trading week on an upbeat note amid AI optimism, hopes for a Federal Reserve cut in December and signs of progress in discussions to end the Russia-Ukraine war.
The tech-heavy Nasdaq Composite soared 2.7 percent as Christopher Waller joined another influential policymaker, John Williams, in setting the stage for Federal Reserve easing next month. The S&P 500 jumped 1.6 percent and the Dow added 0.4 percent.
European stocks ended mostly higher on Monday after dovish signals from Fed officials. The pan European Stoxx 600 inched up 0.1 percent.
The German DAX rose 0.6 percent, while France's CAC 40 slipped 0.3 percent and the U.K.'s FTSE 100 ended little changed.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News