European stocks are seen opening on a mixed note Friday as investors look past bearish factors such as inflation, interest-rate hikes and tensions between Russia and the West over Ukraine.
Asian markets rebounded, tracking an uptick in U.S. index futures after Apple reported record sales in the holiday quarter.
Trading volumes, however, were subdued ahead of the upcoming Lunar New Year holidays.
The latest Covid-19 news could be in focus after Chinese scientists have warned of a potential threat of high fatality due to a newly discovered coronavirus, NeoCoV, which was first reported in South Africa.
The dollar headed for its best week in seven months and gold held steady while oil prices rose after retreating on Thursday.
It’s a busy day ahead on the Eurozone’s economic calendar, with fourth quarter GDP numbers for France and Germany as well as French consumer spending figures for December likely to be in focus.
Across the Atlantic, reports on personal income and spending and consumer sentiment will be key.
Caterpillar, Chevron and Colgate-Palmolive are among the prominent U.S. companies due to report their quarterly results before the opening bell later today.
U.S. stocks gave up sharp early gains to end mostly lower overnight as concerns about inflation, interest rates and stock valuations overshadowed data showing strong GDP growth in the fourth quarter of 2021 and shrinking unemployment claims.
Separate reports showed steeper than expected drops in durable goods orders and pending home sales in December.
The tech-heavy Nasdaq Composite jumped as much as 1.7 percent in early trading before reversing direction to end 1.4 percent lower, marking its lowest closing level in eight months.
The S&P 500 dropped half a percent to a nearly four-month closing low while the Dow finished marginally lower.
European stocks closed higher on Thursday despite weakness in the technology sector amid Fed jitters. The pan European Stoxx 600 gained 0.7 percent.
The German DAX rose 0.4 percent, France’s CAC 40 index inched up 0.6 percent and the U.K.’s FTSE 100 climbed 1.1 percent.
(Corrects day as Friday in the first paragraph)
Business News
European Shares Poised For Mixed Opening
2022-01-28 05:32:26
