Traders work on the floor of the New York Stock Exchange as an image of Vice President Kamala Harris is shown on a television screen, on July 22, 2024.
Spencer Platt | Getty Images
LONDON – European markets opened mixed on Friday, as a global stock selloff eased and investors awaited US inflation.
Pan-European Stoxx 600 has closed lower for the last two sessions amid a decline in tech stocks, with the Wall Street-heavy Nasdaq Composite down more than 3% this week.
Overall, the Stoxx’s losses have eased since last week, when the regional index recorded its worst performance since October.
The biggest item ahead of Friday’s data was the US personal consumption expenditures price index, due at 8:30 a.m. ET, as investors looked for more support for high expectations for a September rate cut. Economists polled by Dow Jones expect the headline numbers to come in at 2.5% annually and 0.1% monthly.
Earnings season continues in full force, with German automakers Mercedes Benz narrowing forecast annual profit margin as it tackles subdued Asian demand. Autos company reported some struggles in the latest results, with Stelantis there was a 48% decline in the first half of the net profit in weak US sales.
Asia-Pacific markets generally rebounded on Friday, as Tokyo headline inflation eased slightly to 2.2% in July from 2.3% in May. US stock futures were higher in the early hours.
