BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are seen opening broadly higher on Monday as investors take more risk off the table following sharp declines in gold, silver and Bitcoin.
Technology stocks will be in the spotlight after the Wall Street Journal reported that Nvidia's plan to invest up to $100 billion in OpenAI has stalled.
Expressing worries about competition and a lack of discipline in OpenAI's business approach, Chief Executive Officer Jensen Huang reportedly said the company's proposed $100 billion investment in OpenAI was 'never a commitment'.
Investors also await cues from the earnings season, with more than 100 S&P 500 companies, including Amazon, Alphabet and Disney due to unveil their quarterly results this week.
In economic releases, the U.S. Labor Department's monthly jobs report along with other reports on manufacturing and service sector activity, job openings and consumer sentiment may attract investor attention this week.
The Reserve Bank of Australia, European Central Bank (ECB) and Bank of England (BoE) all convene policy meetings this week. Both the ECB and BoE are seen holding rates steady.
Asian stocks were broadly lower amid broad-based risk-off sentiment in financial markets.
China's official manufacturing purchasing managers' index came in well below forecasts at 49.3 and the non-manufacturing PMI fell back into contractionary territory, while a private gauge of China's manufacturing sector showed Chinese factories continued to expand activity in January.
Elsewhere, Japan's manufacturing activity returned to expansion in January, with output and new orders rising for the first time in months.
Gold and silver extended their slump and Bitcoin fell to a fresh 10-month low following last week's dollar-fueled collapse.
Oil prices plunged nearly 5 percent after reports of talks between the U.S. and Iran and amid an announcement by OPEC+ to maintain its pause on oil output increases for March.
U.S. stocks ended lower on Friday while the dollar index climbed and Treasury yields surged after President Trump nominated Kevin Warsh for Fed Chair and data showed producer prices increased by the most in five months in December amid some pass-through from import tariffs, prompting traders to price in hawkish shift in U.S. monetary policy.
Warsh is widely viewed as more skeptical of loose monetary policy and has previously criticized the Fed for underestimating inflation risks.
Trump's threat to impose tariffs on Canada planes and nations selling oil to Cuba also weighed on markets. The tech-heavy Nasdaq Composite shed 0.9 percent, while the Dow and the S&P 500 both slid by 0.4 percent.
European stocks closed on a firm note Friday, with mostly positive earnings and solid Eurozone Q4 GDP data helping underpin investor sentiment.
The pan European Stoxx 600 gained 0.6 percent. The German DAX advanced 0.9 percent, France's CAC 40 climbed 0.7 percent and the U.K.'s FTSE 100 added half a percent.
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