European Shares Likely To Drift Lower Ahead Of US Jobs Report

(RTTNews) - European stocks look set to open lower on Tuesday as investors await cues from key U.S. data and central bank decisions.

The delayed monthly jobs report for November along with the October retail sales report will be in the spotlight today, while the consumer price index for November is scheduled to be released on Thursday.

The data could impact the outlook for interest rates after the Federal Reserve's monetary policy meeting last Wednesday showed significant differences of opinion about further rate cuts.

Meanwhile, central banks including ECB, BOJ, BOE, Riksbank and Norges Bank are due to announce their monetary policy decisions this week.

Asian stocks were deep in the red as investors waited for more clarity on the U.S. economic and rate outlook.

The dollar nursed losses and the 10-year U.S. Treasury yield ticked lower amid bets the Fed will cut rates twice next year.

Gold traded weak below $4,300 per ounce on profit booking, while oil extended overnight losses on growing expectations of a 2026 supply glut.

Overnight, U.S. stocks ended lower as investors awaited clarity on the outlook for interest rates.

New York Fed President John Williams said monetary policy is well positioned for next year and he sees inflation moderating amid cooling in the job market.

Boston Fed President Susan Collins said last week's rate reduction was a close call and that she "would want greater clarity about the inflation picture before adjusting policy further."

Fed Governor Stephen Miran argued the policy stance is unnecessarily restrictive.

The tech-heavy Nasdaq Composite shed 0.6 percent as AI spending worries continued to weigh on stocks like Broadcom and Oracle. The S&P 500 eased 0.2 percent and the Dow slid 0.1 percent.

European stocks ended higher at the start of a busy week for central bank meetings. The pan-European Stoxx 600 jumped 0.7 percent.

The German DAX edged up by 0.2 percent, France's CAC 40 added 0.7 percent and the U.K.'s FTSE 100 climbed 1.1 percent.