{"id":39486,"date":"2023-10-12T05:30:47","date_gmt":"2023-10-12T05:30:47","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/10\/12\/european-shares-likely-to-open-higher-as-focus-shifts-to-us-cpi-data\/"},"modified":"2023-10-12T05:30:47","modified_gmt":"2023-10-12T05:30:47","slug":"european-shares-likely-to-open-higher-as-focus-shifts-to-us-cpi-data","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/10\/12\/european-shares-likely-to-open-higher-as-focus-shifts-to-us-cpi-data\/","title":{"rendered":"European Shares Likely To Open Higher As Focus Shifts To US CPI Data"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> European stocks may open on a positive note Thursday as investors react to less hawkish Federal Reserve commentary and await U.S. CPI data later in the day for direction. <\/p>\n<p>Boston Fed president Susan Collins said Wednesday that rates are at or near their peak, though further tightening could be warranted depending on incoming information.<\/p>\n<p>Her Atlanta counterpart Raphael Bostic said the U.S. central bank need not raise borrowing costs any further and he sees no recession ahead. <\/p>\n<p>Asian stocks rose broadly, with Hong Kong <span class=\"landLinks\">markets<\/span> leading regional gains after China&#8217;s sovereign wealth fund increased its stake in four of China&#8217;s biggest banks and said it plans to continue the purchases to boost market confidence. <\/p>\n<p>The dollar and Treasury yields continued to fall ahead of U.S. weekly jobless claims data and the consumer price inflation report due out later in the day. <\/p>\n<p>According to a Bloomberg survey, U.S. CPI is forecast to have slowed to an annual rate of 3.6 percent in September from 3.7 percent the previous month.<\/p>\n<p>Closer home, British GDP and industrial production figures may attract investor attention. <\/p>\n<p>Gold edged up slightly to test the $1,900 mark on dollar weakness, while oil prices fell for a third day in a row after industry data showed an unexpected increase in crude and gasoline stockpiles in the U.S. <\/p>\n<p>Overnight, U.S. stocks extended gains for the fourth consecutive session as oil prices fell again and the Fed&#8217;s September meeting minutes echoed the recent message of data dependence, with around two-thirds of Fed members predicting one more rate hike before the end of 2023.<\/p>\n<p>Traders largely shrugged off data showing that a measure of wholesale prices rose more than expected in September, partly due to a continued surge in energy prices.<\/p>\n<p>The tech-heavy Nasdaq Composite advanced 0.7 percent, while the S&amp;P 500 added 0.4 percent and the Dow rose 0.2 percent.<\/p>\n<p>European stocks ended mixed on Wednesday after logging their biggest gains in nearly a year the previous day.<\/p>\n<p>The pan-European STOXX 600 gained 0.2 percent. The German DAX edged up 0.2 percent, while France&#8217;s CAC 40 shed 0.4 percent and the U.K.&#8217;s FTSE 100 index slid 0.1 percent. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>European Shares Likely To Open Higher As Focus Shifts To US CPI Data<\/a><br \/>\n<br \/>2023-10-12 05:30:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European stocks may open on a positive note Thursday as investors react to less hawkish Federal Reserve commentary and await U.S. CPI data later in the day for direction. Boston&#8230;<\/p>\n","protected":false},"author":2,"featured_media":39487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-39486","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-euro-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/39486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=39486"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/39486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/39487"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=39486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=39486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=39486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}