European Shares Poised For Higher Open

(RTTNews) - European stocks may open on a positive note Wednesday, tracking a widespread rally on Wall Street overnight.

Asian markets traded mixed as investors awaited policy announcements from Beijing's key leadership meeting and weighed the chances of former President Donald Trump winning the U.S presidential election in November.

Dow futures were little changed, a day after the Dow Jones industrial average closed at a new record-high level, posting its best daily performance since June 2023.

The dollar index held near a one-month low amid rising hopes for a soft landing of the world's largest economy.

Gold dipped slightly, after having jumped 2 percent to a record high overnight as the 10-year U.S. Treasury yield slid to a four-month low of 4.16 percent.

Oil hovered near a one-month low on concerns about weakening demand growth in China. In economic releases, consumer and producer price data from the U.K. along with final inflation figures from the euro area are awaited later in the day.

Across the Atlantic, trading may be impacted by reaction to reports on industrial production and housing starts as well as the Federal Reserve's Beige Book.

U.S. stocks rose for a third straight session overnight as investors cheered encouraging earnings from the likes of UnitedHealth, Bank of America and Morgan Stanley.

Treasury yields extended recent declines as retail sales came in unchanged in June and a measure of homebuilder sentiment slipped to a 7-month low in July.

The Dow rallied 1.9 percent and the S&P 500 added 0.6 percent to reach new record closing highs while the tech-heavy Nasdaq Composite inched up 0.2 percent.

European stocks fell for a second straight session Tuesday, with luxury and commodity-related stocks falling on Chinese demand concerns and apprehensions over potential U.S. policy risks.

The pan European STOXX 600 declined 0.3 percent. The German DAX dipped 0.4 percent, the U.K.'s FTSE 100 eased 0.2 percent and France's CAC 40 shed 0.7 percent.