European stocks are seen opening higher on Wednesday as benchmark U.S. Treasury yields eased after a spate of strong auction results and amid speculation that a spike in March U.S. consumer inflation will be a temporary phenomenon.
Asian markets advanced as the White House said the U.S. inoculation campaign remains on track despite a pause in Johnson & Johnson doses.
The dollar hit three-week lows while oil added to overnight gains on signs of inventory drawdown and after OPEC raised its forecast for growth in world oil demand this year.
Bitcoin hit a record above $63,860 ahead of the listing of cryptocurrency platform Coinbase on the Nasdaq later in the day.
Euro zone industrial output data and ECB President Lagarde’s speech may influence trading sentiment later in the session.
Across the Atlantic, Fed Chair Jerome Powell is scheduled to speak at the Economic Club of Washington.
Earnings will be a focus, with JPMorgan Chase & Co. and Goldman Sachs Group Inc among the companies reporting their results later today.
U.S. stocks rose broadly overnight, as expectations of strong quarterly earnings from big name companies outweighed strong inflation data and news about U.S. officials halting the administration of Johnson & Johnson vaccines over blood clot incidents.
The S&P 500 gained 0.3 percent and the tech-heavy Nasdaq Composite index rallied 1 percent while the Dow slipped 0.2 percent.
European markets closed slightly higher on Tuesday amid hopes for better earnings.
The pan European Stoxx 600 edged up 0.1 percent. The German DAX rose 0.1 percent and France’s CAC 40 index added 0.4 percent while the U.K.’s FTSE 100 ended flat with a positive bias.
European Shares Seen Tad Higher At Open
2021-04-14 05:37:22
