European stocks may open a tad higher on Tuesday as U.S. Treasuries extended overnight gains on expectations that upcoming U.S. inflation, labor market and manufacturing data could come in soft.
The July report on U.S. job openings is due later in the day and the all-important jobs report for August on Friday.
Inflation data due later in the week may offer further clues on the Federal Reserve’s rate trajectory.
Focus is also on purchasing managers’ index (PMI) data from China, due on Thursday and Friday.
The European economic calendar remains light today, with German GfK consumer climate survey results and France consumer confidence survey results awaited.
Asian markets traded higher amid speculation over more stimulus measures from China.
The dollar was subdued, helping oil and gold prices trade higher in Asian trade.
U.S. stocks logged solid gains overnight as bond yields retreated on speculation the Fed may take a rate-hike breather in September.
The Dow and the S&P 500 both rose about 0.6 percent while the tech-heavy Nasdaq Composite advanced 0.8 percent.
European stocks closed higher on Monday after China announced new measures to support its flagging economy and struggling stock market.
The pan European STOXX 600 climbed 0.9 percent. The German DAX added 1 percent and France’s CAC 40 gained 1.3 percent while the U.K. markets were closed for Late Summer Bank Holiday.
European Shares Seen Up As Yields Dip Ahead Of Key US Data
2023-08-29 05:28:34
