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European stocks ready for flat opening

European equities are expected to fall slightly on Thursday after a mixed day on Wall Street after the Federal Reserve Board (FRB) policy statement was released.

Asian market It rose sharply as the Federal Reserve did not set a timeline to taper the stimulus and Chinese authorities worked to ease the turmoil over antitrust and data security enforcement over the tech industry.

Gold rose to a week-long high after Fed Chair Jerome Powell’s dovish remarks hit the US dollar index low for more than two weeks. Yields on the US Treasury also fell, but oil rose after a significant drop in inventories.

Flash consumer price and unemployment data from Germany and a monetary policy conference briefing from the European Central Bank are scheduled for the second half of the session and are the headline for a busy day in European economic news.

Cross-Atlantic data for the week ending July 24, unemployment claims data, second-quarter GDP data, and consumer spending reports are scheduled for later that day.

US stocks ended the mix overnight as investors responded to numerous corporate earnings renewals and the dovish presser of Federal Reserve Board Chairman Jerome Powell.

The Federal Reserve Board sought to balance by discussing ways to curtail bond purchases when the time came.

Powell said the labor market has “more grounds to supplement” to meet substantive further development criteria for tapering bond purchases.

The technology-intensive Nasdaq Composite rose 0.7% on the back of good performances from Apple, Alphabet and Microsoft, while the Dow fell 0.4% and the S & P 500 fell slightly.

European stocks rebounded on Wednesday after two consecutive losses in a busy day of corporate earnings.

The Pan-European STOXX 600 rose 0.7%. Germany’s DAX rose 0.3%, France’s CAC 40 index rose 1.2%, and the UK’s FTSE 100 rose 0.3%.

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European stocks ready for flat opening

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