{"id":11883,"date":"2021-07-16T05:49:01","date_gmt":"2021-07-16T05:49:01","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/16\/european-shares-set-for-steady-open-2\/"},"modified":"2021-07-16T05:49:01","modified_gmt":"2021-07-16T05:49:01","slug":"european-shares-set-for-steady-open-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/16\/european-shares-set-for-steady-open-2\/","title":{"rendered":"European Shares Set For Steady Open"},"content":{"rendered":"
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European stocks may open slightly higher on Friday after suffering sharp losses in the previous session. <\/p>\n

Asian markets<\/span> were trading mixed, with concerns about global growth and rising Delta variant cases of the coronavirus denting sentiment. <\/p>\n

As new variants become more pervasive, the COVID-19 curve in the U.S. is rising again after months of decline.<\/p>\n

U.S.-China tensions also remain on investors’ radar, with U.S. President Joe Biden announcing his administration will issue an advisory cautioning U.S. companies about the risks of doing business<\/span> in Hong Kong.<\/p>\n

The dollar edged lower and U.S. Treasury yields extended slide to hit one-week lows as Treasury Secretary Janet Yellen reiterated Fed Chair Jerome Powell’s views, saying that expectations for price gains still look well contained.<\/p>\n

Meanwhile, St. Louis Fed President James Bullard urged policymakers to move forward in reducing stimulus, arguing the goal of achieving “substantial further progress” on both inflation and employment has been met.<\/p>\n

Earlier today, the Bank of Japan revised down its growth forecast for the current fiscal year, but maintained its view the economy<\/span> was headed for a moderate recovery.<\/p>\n

Oil held steady in Asian trade after two days of losses on concerns about a possible oversupply of oil. Gold traded flat but was on track to post its fourth weekly gain.<\/p>\n

Finalized June inflation figures and trade data for the Eurozone will be in focus later today. Across the Atlantic, retail sales and consumer sentiment figures may sway sentiment.<\/p>\n

U.S. stocks ended mixed overnight as Fed Chair Jerome Powell reiterated expectations for inflation pressures to fade and data showed weekly jobless claims fell to a pandemic-era low.<\/p>\n

U.S. industrial production rose in June but manufacturing output continued to be hindered by supply shortages, separate reports revealed.<\/p>\n

The tech-heavy Nasdaq Composite fell 0.7 percent and the S&P 500 shed 0.3 percent, while the Dow edged up 0.2 percent after UnitedHealth reported better than expected second quarterly results. <\/p>\n

European stocks fell sharply on Thursday amid worries about inflation, signs of slowing growth in China and concerns about rising delta variant of the coronavirus<\/span> cases.<\/p>\n

The pan European Stoxx 600 gave up 1 percent. The German DAX and France’s CAC 40 index both fell around 1 percent while the U.K.’s FTSE 100 dropped 1.1 percent. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n