From Nasdaq, Inc.:

European stocks are expected to start higher, supported by a recovery in Chinese and Hong Kong markets. Efforts by Beijing to stabilize Chinese equities contributed to the positive investor sentiment. Asian stocks traded mixed, with Chinese and Hong Kong markets rallying following heavy losses. Gold remained near one-week lows, while the dollar steadied after hitting its strongest level since November. U.S. stocks declined, and Treasury yields surged after Fed Chair Jerome Powell reiterated that the central bank is unlikely to cut interest rates next month. Additionally, a measure of U.S. service sector growth hit a four-month high, tempering rate cut expectations. Fed Bank of Minneapolis President Neel Kashkari said officials have time to study data before cutting rates. Oil edged up slightly in Asian trade, and traders are eyeing Antony Blinken’s visit to the Middle East to discuss a ceasefire offer in the region. Later today, factory orders and construction PMI data from Germany is awaited. European stocks closed Monday’s session little changed. The pan-European STOXX 600 ended flat with a negative bias. The German DAX, France’s CAC 40, and the U.K.’s FTSE 100 all finished marginally lower. The Organisation for Economic Co-operation and Development (OECD) said in a report that it’s too soon to say if sharp interest rate increases have contained underlying price pressures.

Central Huijin Investment Ltd. announced plans to increase its holdings of exchange-traded funds. The China Securities Regulatory Commission is set to update leaders on market conditions and initiatives. Treasury yields surged, and the tech-heavy Nasdaq Composite slipped 0.2 percent. The S&P 500 eased 0.3 percent, and the Dow dropped 0.7 percent. Gold and oil prices remained near one-week lows. U.S. stocks declined overnight, while Asian stocks traded mixed. Fed officials have signaled that they have time to study data before considering rate cuts. The German DAX, France’s CAC 40, and the U.K.’s FTSE 100 all finished marginally lower. The pan-European STOXX 600 ended flat with a negative bias. The tech-heavy Nasdaq Composite slipped 0.2 percent, the S&P 500 eased 0.3 percent, and the Dow dropped 0.7 percent. In contrast, Chinese and Hong Kong markets rallied after a recent string of heavy losses. Similarly, gold remained near one-week lows, and the dollar steadied after hitting its strongest level since November. Oil edged up slightly in Asian trade as the Israel defense forces prepared for a critical confrontation. U.S. Secretary of State Antony Blinken visited the Middle East to discuss a ceasefire offer in the region. Later today, factory orders and construction Purchasing Managers’ survey results from Germany are awaited. The Organisation for Economic Co-operation and Development (OECD) has said in a report that it’s too soon to say if sharp interest rate increases have contained underlying price pressures.



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