Trade, data, stocks as global sentiment deteriorates
European stocks are expected to open into negative territory on Tuesday amid gloomy global markets.
The British FTSE index would open 43 points down to 7,094, the German DAX down 99 points to 15,085, the French CAC 40 down 51 points to 6,514 and the Italian FTSE MIB 203 points down to 25,426, according to IG data.
The expected negative opening for Europe on Tuesday comes after a turbulent period for global markets.
European stocks were muted during the trading session on Monday, seeking direction after a volatile week. Meanwhile, US stocks fell on Monday as investors looked at soaring oil prices, economic worries and major results ahead.
The Dow Jones Industrial Average lost 250.19 points, or 0.7%, to close at 34,496.06. The S&P 500 was down 0.7% to 4,361.19. The Nasdaq Composite dipped 0.6% to 14,486.20.
US equity futures fell on Monday in overnight trading.
Investors brace for a run of US earnings as big banks reveal their third quarter results this week; JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup are all due to report starting Wednesday.
Overnight, Asia-Pacific stocks fell on Tuesday, with major indices from Japan to Hong Kong falling at least 1%.
Investors in the region were closely watching oil prices, which fell during trading hours in Asia, taking a breather after a recent surge above $ 80. International benchmark Brent crude futures fell 0.55% to $ 83.19 per barrel, while US crude futures fell 0.56% to $ 80.07 per barrel.
Results updates will be released on Tuesday by luxury giant LVMH and Swiss fragrance maker Givaudan. On the economic data front, the releases include UK unemployment figures for August and Germany’s latest ZEW Economic Sentiment Survey.
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– CNBC’s Eustance Huang and Yun Li contributed to this market report.