European Shares Seen Up In Cautious Trade As Broadcom Raises AI Chip Forecast

European stocks may open higher on Thursday, with tech shares likely to be in focus after Broadcom beat Wall Street’s expectations in its fiscal third quarter and predicted a boom in artificial intelligence chip sales over the next two years.

Meanwhile, after U.S. ADP labor figures came in below expectations, new hopes have arisen that signs of weakness in the labor market will lead the Federal Reserve to refrain from raising interest rates later this month.