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European stocks may struggle for direction at open on Tuesday after a private survey showed China’s factory activity fell into contraction territory for the first time since April.<\/p>\n
Another report showed that average new home prices in 100 Chinese cities fell for a third consecutive month in July. <\/p>\n
Japan, South Korea, Taiwan and Vietnam also saw manufacturing activity contracting in July, raising fresh concerns about the region’s fragile economic recovery. <\/p>\n
Asian markets<\/span> traded mixed, with losses capped somewhat on optimism that most global central banks may be either close to a peak or already done with interest-rate hiking.<\/p>\n Fed Bank of Chicago President Austan Goolsbee said on Monday that recent data showing slower inflation was promising and that all options are on the table for September. <\/p>\n Over the weekend, his Minneapolis counterpart Neel Kashkari called the inflation outlook in the U.S. as “quite positive.” <\/p>\n Earlier today, the Reserve Bank of Australia held interest rates steady but cautioned that further interest-rate rises might be needed to get inflation under control.<\/p>\n The dollar traded higher, keeping gold prices under pressure.<\/p>\n Oil prices were slightly lower after posting their biggest monthly gain in more than a year on expectations that Saudi Arabia would extend voluntary output cuts into September.<\/p>\n Eurozone and U.K. manufacturing PMI numbers along with the German labor market report are awaited later in the day. <\/p>\n Across the Atlantic, trading may be impacted by reaction to reports on manufacturing activity, construction spending and job openings.<\/p>\n U.S. stocks ended a lackluster session slightly higher overnight as data showed Chicago-area business<\/span> activity contracted at a slightly slower rate in July.<\/p>\n The Dow gained 0.3 percent, while the tech-heavy Nasdaq Composite and the S&P 500 both rose around 0.2 percent.<\/p>\n European stocks closed mostly higher on Monday amid China stimulus optimism and encouraging Eurozone GDP and inflation data.<\/p>\n The pan European STOXX 600 edged up 0.1 percent. The German DAX slipped 0.1 percent, while France’s CAC 40 rose 0.3 percent and the U.K.’s FTSE 100 finished marginally higher. <\/p>\n<\/p>\n<\/div>\n