Breaking News
Get 40% Off 0
🔎 See NVDA full ProTips for an instant risks or rewards Claim 40% OFF

European stock futures higher; economic data dump due

Published Dec 23, 2022 08:16
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
EUR/USD
+0.08%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NESN
-0.65%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE30
+0.70%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
+0.18%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LCO
+0.65%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
-0.07%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Peter Nurse

Investing.com - European stock markets are expected to open higher Friday in thin holiday-affected volumes ahead of the release of more regional growth, inflation, and confidence data.

At 02:00 ET (07:00 GMT), the DAX futures contract in Germany traded 0.6% higher, CAC 40 futures in France climbed 0.3%, and the FTSE 100 futures contract in the U.K. rose 0.3%.

Economic data released this week has helped the European markets approach the close of the year with a degree of optimism that the recession expected for the region in 2023 may not be as bad as first feared.

There are more numbers to digest on Friday - a day that sees the U.K. stock market close early ahead of the Christmas holiday - with Spanish third-quarter GDP, French November PPI, and Italian December consumer confidence data all due for release this session.

That said, the bulk of attention will be on the U.S. economic data calendar, with personal consumption expenditures data, the Federal Reserve’s favorite inflation gauge due later on Friday, which will provide more clues on the direction of prices as 2023 draws near.

In corporate news, Nestle (SIX:NESN) could be in the spotlight Friday after the Swiss food giant’s Chief Financial Officer François-Xavier Roger foresees a challenging six months before inflation starts to ease in the second half of 2023.

Oil prices rose Friday on expectations that Russian supply will be reduced in the new year, while traders digest the impact of the winter storm hitting the U.S.

Russia will halt sales of its oil to the countries which support the price caps introduced by the G7 countries earlier this month, which may cut oil output by 5%-7% in early 2023, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.

This would tighten global supply even further, likely boosting prices as demand increases, particularly from China as it recovers from its latest COVID outbreak.

Meanwhile, a winter storm is hitting large parts of the U.S., triggering warnings from Maine to the Gulf of Mexico. This has resulted in thousands of flights being canceled, but also an increase in demand for energy to heat homes and offices.

By 02:00 ET, U.S. crude futures traded 0,9% higher at $78.19 a barrel, while the Brent contract rose 1.3% to $82.04.

Additionally, gold futures rose 0.4% to $1,802.90/oz, while EUR/USD traded 0.2% higher at 1.0609.

European stock futures higher; economic data dump due
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email