European Stocks Trade Near Flatline
European stocks hover around the flatline near record levels ahead of US CPI report
Both the STOXX 50 and STOXX 600 hovered around the flatline near record levels on Wednesday, as traders refrained from making major bets ahead of the US CPI report, which is expected to provide fresh clues on price pressures and help shape expectations for the Fed's next steps.
Rising oil prices also kept sentiment cautious.
Meanwhile, the earnings season is drawing to a close, although several companies continued to report results.
ABN AMRO surged more than 5% after beating market expectations across the board, while Vestas jumped more than 18% after reporting higher revenue.
The tech sector was among the top performers, benefiting from a broader global tech rally after CoreWeave reported better-than-expected sales growth.
ASML Holding rose 2%, Infineon Technologies gained 1.6%, Siemens Energy advanced 3.5%, and Rheinmetall climbed 1.3%.
Luxury stocks, meanwhile, came under pressure, with LVMH falling 1.8%, Hermes declining 1.5%, and Kering dropping 2.9%.