European Shares Seen Lower At Open As Nvidia Earnings Loom

RTTNews | Pred 3 dňami
European Shares Seen Lower At Open As Nvidia Earnings Loom

(RTTNews) - European stocks are seen opening broadly lower on Monday as investors look ahead to a busy week of economic data and await Nvidia earnings.

Earnings from AI chipmaker Nvidia Corp, Dell and Marvell due this week could play a key role in determining whether the tech rally is back on or if there's further to go in the rotation trade.

Consumer trends and the impact of tariffs on prices will also be in the spotlight as retailers such as Gap Inc., Ulta Beauty Inc., Williams-Sonoma Inc. and Petco Health and Wellness Inc. report their earnings.

On the economic front, U.S. reports on new home sales, durable goods orders, consumer confidence, second quarter GDP, personal income and spending, weekly jobless claims and consumer price inflation all are important for upcoming Fed interest rate decision in September.

Closer home, consumer inflation expectations as well as economic and services sentiment numbers for August from the euro zone may garner attention as the week progresses.

Asian markets were broadly higher after the Fed signaled looser policy. Yields on 10-year U.S. notes held steady after falling on Friday.

The dollar struggled to recover from a four-week low against the euro while gold edged down slightly after rising 1 percent to reach a two-week high last week.

Oil prices held steady as Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted.

As Russia-Ukraine peace talks stall, U.S. President Donald Trump said that he will make a "very important decision" in the next two weeks regarding the ongoing Russia-Ukraine war if both sides do not agree to a peace deal.

U.S. stocks surged on Friday after Federal Reserve Chair Jerome Powell said that economic risks are 'shifting' and a rate cut may be warranted.

He added that "risks to inflation are tilted to the upside, and risks to employment to the downside — a challenging situation".

The Dow jumped 1.9 percent to reach a new record closing high while the S&P 500 rallied 1.5 percent to snap a five-day losing streak and the tech-heavy Nasdaq Composite climbed 1.9 percent.

European stocks rose on Friday as Powell pointed to a possible September interest rate cut in his Jackson Hole Symposium speech.

The pan-European STOXX 600 index closed 0.4 percent higher, logging its third week of gains.

The German DAX rose 0.3 percent, France's CAC 40 added 0.4 percent and the U.K.'s FTSE 100 inched up 0.1 percent.

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