{"id":183772,"date":"2023-11-17T17:38:59","date_gmt":"2023-11-17T17:38:59","guid":{"rendered":"https:\/\/precoinnews.com\/?p=183772"},"modified":"2023-11-17T17:38:59","modified_gmt":"2023-11-17T17:38:59","slug":"european-shares-seen-slightly-higher-as-investors-await-us-cpi-data","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/european-shares-seen-slightly-higher-as-investors-await-us-cpi-data\/","title":{"rendered":"European Shares Seen Slightly Higher As Investors Await US CPI Data"},"content":{"rendered":"
European stocks may open on a positive note Monday following a tech-driven rally on Wall Street Friday. <\/p>\n
The upside, however, may remain limited and volatility cannot be ruled out as inflation concerns returned to the fore. <\/p>\n
Investors look forward to the release of U.S. reports on consumer and producer prices this week after data showed expectations for inflation among U.S. households are on the rise.<\/p>\n
A summit between Joe Biden and Xi Jinping later this week also remains on investors’ radar, with Beijing reportedly considering resuming purchases of Boeing’s 737 Max aircraft.<\/p>\n
On the earnings front, retail giants Walmart, Home Depot and Target along with networking giant Cisco are among the prominent companies that will unveil their financial results this week. <\/p>\n
Asian markets<\/span> were seeing modest losses in Asian trade and gold was marginally lower while Treasuries and the dollar were largely steady in cautious trade. <\/p>\n Oil prices fell about 1 percent to extend three weeks of declines on worries of declining demand in the U.S. and China and a waning war-risk premium. <\/p>\n U.S. stocks rallied on Friday to notch a second week of gains as Treasury yields stabilized after hitting 16-year highs the previous day. <\/p>\n Investors shrugged off reports showing deteriorating consumer sentiment and rising inflation expectations of households. <\/p>\n The tech-heavy Nasdaq Composite surged 2.1 percent to log its best single-day gain since May while the Dow and the S&P 500 climbed 1.2 percent and 1.6 percent, respectively to reach their best closing levels in well over a month. <\/p>\n European stocks closed notably lower on Friday after hawkish comments from Fed, ECB and BoE policymakers and some disappointing regional economic data.<\/p>\n The pan European STOXX 600 gave up 1 percent. The German DAX dropped 0.8 percent, France’s CAC 40 lost 1 percent and the U.K.’s FTSE 100 shed 1.3 percent. <\/p>\n