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European stocks closed mixed on Monday after a cautious session amid concerns about the health of the world's second largest economy after Country Garden Holdings, a major property developer in China, missed bond payments and warned of multibillion-dollar losses.
European stocks were mostly higher on Thursday ahead of U.S. CPI data that might offer clues on whether the Fed pauses, pivots or marches upwards with rates. Markets are positioning for a slight increase in the headline rate but a decline in the core rate of inflation.
European stocks closed notably lower on Tuesday, weighed down by growth worries after data showed China's exports and imports both sank at their fastest pace sine the 2020 Covid-19 pandemic in July.
European stocks are likely to open higher on Friday, as investors react to upbeat U.S. earnings and await the all-important monthly jobs report later in the day for more clues on the Federal Reserve's next moves in its campaign against high inflation.
European stocks may drift lower on Wednesday after Fitch Ratings downgraded the U.S. credit rating by one notch to AA+, citing high debt burden at the federal, state, and local levels and a concerning decline in governance standards over the last two decades.