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LONDON — European stocks are expected to open broadly higher on Thursday as regional traders keep an eye on the latest economic data from the region.
The U.K.’s FTSE index is seen 0.11% higher, Germany’s DAX up 0.12%, France’s CAC 40 flat and Italy’s FTSE MIB up 0.13%, according to data from IG.
Traders will be keeping an eye on the latest flash (or preliminary) euro zone and U.K. purchasing managers’ index data for an indication of economic activity in the region. No major earnings reports are due in Europe on Thursday.
Asia-Pacific markets mostly rose overnight, with Australian stocks among the top gainers. The positive sentiment in Asia was a departure from the mood on Wall Street on Wednesday as tech stocks dragged the broader market lower. U.S. stock futures were little changed in overnight trading.
Minutes from Federal Reserve’s July meeting, published Wednesday, showed policymakers are worried about the state of the labor market and inflation, though most agreed that it was too soon to lower interest rates.
Fed Governors Christopher Waller and Michelle Bowman dissented against holding rates steady, marking the first time two voting Fed officials have done so since 1993.
Traders are also focusing on key speeches from Fed officials when they convene in Jackson Hole, Wyoming, for the Fed’s annual economic symposium on Thursday. Fed Chair Jerome Powell is due to speak on Friday, with investors looking for clues on the path of interest rates.
Fed funds futures are pricing in about an 82% likelihood of the central bank cutting interest rates at its next policy gathering in September, according to CME’s FedWatch tool.
