Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Stock Futures Edge Lower; Fed Meeting in Focus

Stock MarketsNov 02, 2021 02:59AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse 

Investing.com - European stock markets are expected to open with small losses Tuesday, handing back some of the previous session’s gains ahead of the start of an eagerly-awaited Federal Reserve meeting.

At 2 AM ET (0700 GMT), the DAX futures contract in Germany traded 0.2% lower, CAC 40 futures in France dropped 0.1% and the FTSE 100 futures contract in the U.K. fell 0.2%.

Investors around the world are focusing on the start of the Fed’s two-day policy-setting meeting later Tuesday, with the central bank widely expected to start winding down its $120 million monthly bond-buying program. 

The Fed will likely have to update its thinking about rising prices, and consequently about when it will start raising interest rates, as inflation is running at a 30-year high. What it says on this subject will be an important determinant of risk appetite in the weeks ahead.

Ahead of this, there are a number of corporate earnings for investors to focus on, with the generally positive third-quarter season having helped the main European indices post gains of just under 1% on Monday.

U.K.-based bank Standard Chartered (OTC:SCBFF) posted a stronger-than-expected pretax profit for the third quarter, aided by lower credit charges and growth in trade finance, while Swiss staffing company Adecco (SIX:ADEN) expects fourth-quarter revenues to grow modestly due to a continued increase in hiring across the continent.

Earnings from the likes of energy giant BP (NYSE:BP), German health care company Fresenius (DE:FREG) and Dutch health nutrition firm DSM (AS:DSMN) are also out. Elsewhere, shipping giant AP Moeller - Maersk  (CSE:MAERSKb) said it will increase its existing buyback program by $5 billion, expecting exceptionally high shipping rates to stay strong through the first quarter of next year at least. 

Investors will also follow the ongoing COP26 conference in Glasgow, a U.N. conference aimed at limiting the effects of climate change, with one hundred countries having given themselves nine years to halt and reverse deforestation, backed by a fund of $19 billion.

In economic news, the main release Tuesday will be the German manufacturing PMI for October.  

Crude prices edged higher Tuesday with preliminary October output data for the top producers suggesting the global supply situation remains tight.

The Organization of the Petroleum Exporting Countries meets with allies including Russia later this week to discuss their production levels.

According to a Reuters survey, the group increased output by 190,000 barrels per day over the month, below the 254,000 b/d they could have increased output by under their current deal. 

The American Petroleum Institute will also release its latest U.S. crude oil supply data at 4:30 PM ET.

By 2 AM ET, U.S. crude futures traded 0.3% higher at $84.28 a barrel, while the Brent contract rose 0.5% to $85.11. 

Additionally, gold futures were largely unchanged at $1,795.80/oz, while EUR/USD edged higher to 1.1608.

 

European Stock Futures Edge Lower; Fed Meeting in Focus
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email