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European stocks look set to open on a cautious note Wednesday, with upcoming Nvidia earnings and U.S. economic data likely to be in focus. <\/p>\n
Nvidia’s highly awaited third-quarter results will be published after today’s market close, with investors awaiting clarity on guidance for fresh insights on the strength of the AI trade.<\/p>\n
Meanwhile, earnings reports from major retailers Target, Lowe’s and TJX Companies should give market participants a stronger picture of how consumer spending is faring amid high tariff costs and elevated mortgage rates. <\/p>\n
Traders are also looking ahead to the release of some U.S. economic data, including the September jobs report on Thursday that will be released after a lengthy delay due to the government shutdown. <\/p>\n
Closer home, consumer price inflation data from the U.K. and the euro area will be in the spotlight later today. <\/p>\n
Asian markets<\/span> were mostly lower, failing to hold onto early gains after a three-day sell-off. The dollar index held steady while gold edged up slightly ahead of the release of the minutes from the Federal Reserve’s latest policy meeting.<\/p>\n Oil prices were little changed as data showing rising U.S. stockpiles offset concerns about the fallout from Western sanctions on Russia.<\/p>\n U.S. stocks ended deep in the red overnight to reach their lowest levels in a month due to worries about an AI bubble, dwindling rate cut hopes and investor anxiety about the economic outlook.<\/p>\n Home improvement retailer Home Depot forecast a steeper than expected drop in annual profit, raising concerns about the housing market and the health<\/span> of the American consumer.<\/p>\n In economic releases, data showed the number of Americans claiming jobless benefits reached a two-month high in mid-October for the week concluding 18 October.<\/p>\n New orders for U.S. manufactured goods rebounded in August, though business<\/span> spending on equipment was not as strong as initially thought.<\/p>\n The Dow dipped 1.1 percent and the tech-heavy Nasdaq Composite declined 1.2 percent while the S&P 500 dropped 0.8 percent to extend losses for a fourth straight session, marking its longest slide since August.<\/p>\n European stocks slumped to close around one-month lows on Tuesday as the risk-off mood intensified.<\/p>\n The pan European Stoxx 600 plunged 1.7 percent. The German DAX lost 1.7 percent, France’s CAC 40 tumbled 1.9 percent and the U.K.’s FTSE 100 gave up 1.3 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n