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European Shares Set For Positive Opening
(RTTNews) - 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.
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