Traders work on the floor of the New York Stock Exchange as an image of Vice President Kamala Harris is displayed on a television screen, July 22, 2024.
Spencer Platt | Getty Images
LONDON — European markets are headed for a mixed open on Friday, as a global stock sell-off subsides and investors await U.S. inflation.
All Europe Stoxx 600 Stocks closed lower in the last two trading sessions amid a sharp decline in technology stocks, with tech stocks dominating Wall Street. Nasdaq Composite down more than 3% this week.
Overall, the Stoxx losses narrowed from last week, when the regional index posted its worst performance since October.
The biggest item on the data front Friday is the U.S. personal consumption expenditures price index, due at 8:30 a.m. ET, as investors look for further support for high expectations of a September interest rate cut. Economists polled by Dow Jones expect the headline figure to come in at 2.5% year-over-year and 0.1% month-over-month.
Earnings season continues in full swing for German automakers Mercedes-Benz Cars narrowed its annual profit margin forecast as it grapples with weak Asian demand. Auto companies are reporting a range of difficulties in their latest results, with Stellantis on thursday recording one 48% off in first-half net profit due to weaker sales in the United States.
Asia-Pacific Market rebounded significantly on Friday, as Tokyo’s headline inflation eased slightly to 2.2% in July from 2.3% in May. US Stock Futures higher in the early hours.
