European Stocks Head for Lower Open
European equity markets were expected to open lower on Wednesday as investors reacted to early US midterm election results, which pointed to a possible Democratic takeover of both houses of Congress. Such an outcome could increase the likelihood of political gridlock in Washington, constrain government spending and bring greater regulatory scrutiny to technology-focused industries, particularly artificial intelligence. However, bargain hunters appeared to be stepping in to take advantage of recent declines, helping limit losses across global markets. Meanwhile, investors are turning their attention to October Eurozone inflation data and the final services and composite PMI readings from across the region. On the corporate front, earnings reports are due from Telecom Italia, Leonardo, BMW, Fresenius and BPER Banca, among other companies. In premarket trading, Euro Stoxx 50 futures fell 0.4%, while Stoxx 600 futures declined 0.5%.
European equity markets were expected to open lower on Wednesday as investors reacted to early US midterm election results, which pointed to a possible Democratic takeover of both houses of Congress. Such an outcome could increase the likelihood of political gridlock in Washington, constrain government spending and bring greater regulatory scrutiny to technology-focused industries, particularly artificial intelligence. However, bargain hunters appeared to be stepping in to take advantage of recent declines, helping limit losses across global markets.
Meanwhile, investors are turning their attention to October Eurozone inflation data and the final services and composite PMI readings from across the region. On the corporate front, earnings reports are due from Telecom Italia, Leonardo, BMW, Fresenius and BPER Banca, among other companies. In premarket trading, Euro Stoxx 50 futures fell 0.4%, while Stoxx 600 futures declined 0.5%.