European stocks are likely to open on a subdued note Monday as investors look ahead to the interest rate decisions from the Federal Reserve, the European Central Bank and the Bank of England this week for directional cues. <\/p>\n
The FOMC decision is due on Feb.1, with analysts expecting the U.S. central bank to slow the pace of interest rate hikes to 25 basis points. <\/p>\n
Traders will pay close attention to the accompanying statement to see if there are chances of a soft landing for the economy<\/span>.<\/p>\n
The monthly U.S. jobs and wage data along with reports on consumer confidence and manufacturing and service sector activity would also be in the spotlight. <\/p>\n
Elsewhere, the European Central Bank and the Bank of England are both expected to hike rates by 50 basis points.<\/p>\n
On the earnings front, Alphabet, Apple, Amazon and Facebook parent company Meta are among the prominent companies scheduled to report their fourth-quarter financial results this week. <\/p>\n
Asian markets<\/span> traded mostly lower even as Chinese shares rose as traders returned from the Lunar New Year holidays.<\/p>\n
The dollar traded firm and gold held steady while oil edged lower ahead of an OPEC+ meeting this week, with no changes expected to oil output policy.<\/p>\n
U.S. stocks fluctuated before closing mostly higher on Friday, as a slew of economic data boosted optimism about the overall health<\/span> of the world’s largest economy.<\/p>\n
Personal income increased in line with estimates in December, pending home sales rose for the first time in seven months and a measure of consumer sentiment improved in January while a closely watched measure of inflation showed the pace of price increases easing.<\/p>\n
The tech-heavy Nasdaq Composite rallied 1 percent to log its fourth weekly gain, while the S&P 500 rose 0.3 percent and the Dow inched up marginally.<\/p>\n
European stocks closed on a positive note Friday after U.S. GDP data beat expectations.<\/p>\n
The pan European STOXX 600 gained 0.3 percent. The German DAX edged up around 0.1 percent while France’s CAC 40 and the U.K.’s FTSE 100 both finished marginally higher. <\/p>\n
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