European stocks are likely to open on a positive note Tuesday despite lingering worries about higher interest rates.
Amid much uncertainty about the U.S. economic will perform this year, investors now await a planned speech by Fed Chair Jerome Powell at the Economic Club of Washington later in the day for directional cues.
German industrial production for December and a speech from ECB policymaker Isabel Schnabel may also sway sentiment as the day progresses.
Asian markets traded mixed while a weaker dollar helped gold and oil prices push higher.
The dollar slipped but still hovered near a one-month peak as U.S. Treasury Secretary Janet Yellen said she saw a path for avoiding a U.S. recession.
Oil prices rose over 1 percent as Monday’s earthquake led to the halting of export operations at one of the oil terminals in Turkey.
U.S. stocks fell for a second day running overnight amid concerns the Fed might keep interest rates higher for longer to combat inflation.
The Dow slipped 0.1 percent, the tech-heavy Nasdaq Composite lost 1 percent and the S&P 00 shed 0.6 percent.
European stocks fell notably on Monday in the wake of rising Sino-U.S. geopolitical tensions and heightened fears that the Fed might continue its rate hike trajectory.
The pan-European STOXX 600 declined 0.8 percent. The German DAX and the U.K.’s FTSE 100 both gave up around 0.8 percent while France’s CAC 40 index tumbled 1.3 percent.
Market Analysis
European Shares Set For Positive Opening
2023-02-07 05:41:43
