European stocks look set to open on a steady note Friday despite weak cues from Wall Street and Asia.
Asian stocks were broadly lower, with Hong Kong markets shut due to a tropical storm.
Tech shares were losing ground as a result of the deepening Sino-U.S. tensions over everything from trade and technology to Taiwan.
Data showed Japan’s economy grew less than initially estimated in the second quarter and wages slumped in July, stirring fresh concerns over slower global economic growth.
A rally in the dollar stalled, helping gold prices tick higher. Oil prices eased for a second day on demand concerns but were still headed for a second consecutive weekly gain.
U.S. stocks ended mostly lower overnight as fears grew over China’s iPhone curbs and initial jobless claims fell to their lowest level since February, raising worries about sticky inflation and interest rates.
The tech-heavy Nasdaq Composite shed 0.9 percent to extend losses for a fourth day running and the S&P 500 eased 0.3 percent while the Dow inched up 0.2 percent.
European stocks ended mixed on Thursday amid inflation and interest rate worries.
The pan European STOXX 600 slipped 0.1 percent to log its seventh consecutive negative session – marking the longest losing streak for the index since February 2018.
The German DAX slipped 0.1 percent, while France’s CAC 40 finished marginally higher and the U.K.’s FTSE 100 edged up 0.2 percent.
Business News
European Shares To Open On Firm Note Despite Growth Worries, Sino-US Tensions
2023-09-08 05:32:53
