European Markets Seen Opening Weak Ahead Of Earnings Updates

(RTTNews) - Markets in Europe are expected to open on a weak note on Tuesday amidst anxiety ahead of the next round of corporate earnings. Weak growth in China is also seen dragging sentiment.

Wall Street had closed on a positive note on Monday amidst expectations of an end of the Fed's monetary tightening cycle. The Nasdaq Composite added 0.93 percent to close at 14,244.95 whereas the Dow Jones Industrial Average added 0.22 percent to finish trading at 34,585.35.

Sentiment however remained weak at the European bourses and major markets in the region closed on a negative note on Monday. Weak GDP data from China weighed on sentiment. Switzerland's SMI finished 1.21 percent lower. France's CAC 40 erased 1.12 percent. The pan-European Stoxx-600 slipped 0.63 percent. U.K.'s FTSE 100 finished 0.38 percent lower. Germany's DAX dropped 0.23 percent.

Current indications from the European stock futures indicate a mixed sentiment. The FTSE 100 Futures (Sep) is trading 0.13 percent lower. The DAX Futures (Sep) is currently trading 0.03 percent lower. The CAC 40 Futures (Aug) is trading 0.01 percent lower. The pan-European Stoxx 50 Futures (Sep) is trading 0.05 percent higher. The SMI Futures (Sep) has added 0.02 percent.

American stock futures are trading in mildly negative territory. The US 30 (DJIA) is down 0.01 percent whereas the US500 (S&P 500) is trading 0.06 percent lower.

Asian stock markets are trading on a mixed note. Japan's Nikkei 225 is trading 0.08 percent higher. South Korea's KOSPI has shed 0.52 percent. Australia's S&P ASX 200 declined 0.27 percent. Hong Kong's Hang Seng plunged more than 2 percent whereas China's Shanghai Composite has shed 0.20 percent. New Zealand's NZX 50 has shed 0.18 percent. India's Nifty 50 has added 0.42 percent.

The Dollar Index (DXY), a measure of the Dollar's strength relative to six currencies, edged lower, shedding 0.09 percent to 99.75 amidst hopes of an end to the Fed's monetary tightening cycle. The EUR/USD pair has increased 0.15 percent to 1.1250 whereas the GBP/USD pair has added 0.18 percent to trade at 1.3094.

Amidst the Dollar's weakness, gold prices strengthened. Gold Futures for August settlement are trading at $1,964.35 per troy ounce, up 0.41 percent on an overnight basis.

Crude prices rose amidst tightening supplies in the U.S. Brent Crude Futures for September settlement increased 0.34 percent to $78.77 whereas WTI Crude Futures for September settlement increased 0.38 percent to $74.36.

No major data releases are scheduled from the region. Retail Sales data from the U.S. is due later in the day.

Major earnings updates due on Tuesday from the region include Skandinaviska Enskilda Banken, Epiroc, Swedbank and Novartis.