European Shares May Follow Wall Street Higher On Rate Cut Optimism

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(RTTNews) - European stocks may open higher on Tuesday after U.S. markets notched third consecutive day of gains overnight on the back of better-than-expected corporate earnings and rate-cut optimism.

Asian stocks traded mostly higher as investors cheered robust tourism data from China for the Labour Day holiday period and easing housing market restrictions, with Shenzhen and Wuhan further easing home purchase restrictions to boost sales.

The Aussie dollar held close to a two-month high versus its U.S. counterpart as the Reserve Bank of Australia kept interest rates unchanged and warned that inflation was easing at a slower pace than it expected.

The yen continued to drift lower against the dollar despite fresh warnings from Japanese authorities on excessive yen moves.

Gold edged lower after demonstrating resilience in the previous trading session.

Fed Bank of Richmond President Thomas Barkin said Monday that he feels the risks are weighted towards more inflation.

His New York counterpart John Williams said that the timing of rate cuts will depend on the totality of the incoming data.

Oil extended overnight gains after Israel carried out night air strikes on Rafah and said a ceasefire proposal accepted by Hamas fell "far from Israel's necessary requirement".

In economic releases, Eurozone retail sales numbers, factory orders data from Germany and U.K. house price figures may garner investor attention later in the day.

Across the Atlantic, it's another quiet day on the economic front.

On the earnings front, financial results from media giant Walt Disney Company and oil and gas majors Duke Energy Corporation and Occidental Petroleum Corporation are awaited later in the day.

U.S. stocks rose overnight amid solid first-quarter earnings reports and hopes for interest rate cuts before the end of the year.

The tech-heavy Nasdaq Composite surged 1.2 percent and the S&P 500 added 1 percent while the Dow inched up half a percent to post its fourth consecutive daily gain.

European stocks posted solid gains on Monday as new data showed improvement in Eurozone investor confidence and an acceleration in private sector growth.

The pan European STOXX 600 gained half a percent. The German DAX climbed 1 percent and France's CAC 40 rose half a percent while the U.K. markets were closed for a bank holiday.

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market moves on Friday, reversing the losses in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up near the 8,800 level, with gains in financial, energy and technology stocks partially offset by a mixed performance in mining stocks.

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Asian Markets Trade Mixed

Asian stock markets are trading mixed on Friday, following the broadly positive cues from Wall Street overnight, as traders continued to digest the US Fed's interest rate cut by a quarter point and its impact on the markets. Fed officials' forecasts suggest two more rate cuts this year but just one next year, although there were significant differences of opinion about the outlook.

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Sensex, Nifty Eye Cautious Start After Recent Gains

Indian shares are seen opening little changed on Friday after recent gains supported by GST reforms and encouraging progress in India-U.S. trade discussions.

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Thai Shares May Halt Slide On Friday

The Thai stock market has moved lower in consecutive trading days, shedding more than 10 points of 0.8 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,300-point plateau, although it may find support on Friday.

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Japanese Market Notably Higher

Extending the gains in the previous session, the Japanese market is notably higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 45,700 level, with gains across most sectors led by automakers, financial and technology stocks.

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Higher Open Tipped For Indonesia Stock Market

The Indonesia stock market on Thursday ended the seven-day winning streak in which it had surged almost 400 points or 5 percent. The Jakarta Composite Index now sits just shy of the 8,010-point plateau, although it may tick higher again on Friday.

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Australian Market Notably Higher

The Australian stock market is trading notably higher on Friday, reversing the losses in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,800 level, with gains energy and technology stocks partially offset by weakness in mining stocks.

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Hong Kong Bourse Expected To Remain Rangebound

The Hong Kong stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had jumped more than 360 points or 1.4 percent. The Hang Seng Index now sits just beneath the 26,550-point plateau although it's likely to move back to the upside again on Friday.

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EURUSD	1.17907	GBPUSD	1.35551	AUDUSD	0.6615
USDJPY	147.787	USDCAD	1.37922	USDCHF	0.79242