European Shares Likely To Open On Firm Note

(RTTNews) - European stocks are seen opening broadly higher on Wednesday as investors digest mixed remarks from Fed officials and await the minutes of the of the Federal Reserve's latest monetary policy meeting for additional clues on the size and pace of rate cuts in the months ahead.

Fed officials Kashkari and Miran backed two rate cuts this year on Tuesday, while Schmid and Goolsbee argued against more rate cuts given sticky inflation and tariff-driven price pressures.

Fed Chair Jerome Powell is due to speak on Thursday at the Community Bankers Conference in Washington, D.C.

Meanwhile, the U.S. government shutdown continues with no progress in the deadlock between the two chambers of the U.S. Congress.

Asian markets were mostly lower this morning as investors fretted about the U.S. economic outlook and high valuations, especially in the tech sector.

Gold surged more than 1 percent to hit a new record high above $4,020 an ounce despite a stronger dollar, which surged to a sex-week peak amid risk aversion in markets.

Oil prices were also up nearly 1 percent after industry data indicated a drop in stockpiles at a U.S. delivery hub.

Overnight, U.S. stocks closed lower after the Federal Reserve Bank of New York's latest consumer survey showed deteriorating future expectations and rising inflation projections.

The tech-heavy Nasdaq Composite fell 0.7 percent, the S&P 500 dipped 0.4 percent and the Dow eased 0.2 percent.

European stocks ended flat to slightly lower on Tuesday as France faced renewed political instability.

The pan-European Stoxx 600 slid 0.2 percent as regional bond yields spiked and a survey showed German manufacturing orders unexpectedly sank for the fourth straight month in August.

The German DAX, France's CAC 40 and the U.K.'s FTSE 100 all finished marginally higher.