A trader works on the floor of the New York Stock Exchange on June 24, 2024 in New York City.
Brendan McDiarmid | Reuters
LONDON — European stock markets are expected to open higher on Wednesday, reversing the negative sentiment seen in the previous trading session.
Britain’s FTSE index is expected to open eight points higher at 8,256, Germany’s DAX is expected to rise 70 points to 18,226, France’s CAC40 is up 40 points to 7,692 and Italy’s FTSE MIB is set to open 75 points higher at 33,980, according to IG data.
European markets are expected to open positively after a sharp sell-off in tech stocks led to choppy trading in the region and around the world, although volatility in the sector appears to have stabilized after chip giant Nvidia Corp. surged its shares on Tuesday.
U.S. stock futures were broadly flat overnight Tuesday after the S&P 500 rebounded from a tough start to the week, while Asia-Pacific markets were mixed overnight after Australia’s inflation rate rose for a third straight month, sending semiconductor and related stocks soaring.
Wall Street is likely to turn its attention to the latest U.S. inflation data when the Personal Consumption Expenditures Price Index for May, the Federal Reserve’s go-to inflation gauge, is released on Friday.
Data due in Europe on Wednesday include Germany’s GFK consumer survey for July and European consumer confidence data for June. Earnings are due to be released by Mulberry.
