European Shares Likely To Open On Firm Note Ahead Of U.S. Jobs Data

(RTTNews) - European stocks are seen opening flat to slightly higher on Thursday amid eased inflation and interest-rate concerns.

Brent crude prices slid to nearly $70 a barrel for the first time since the days leading up to the start of the U.S.-Iran war after Qatar said that indirect U.S.-Iran talks have made "positive progress" and that the next round of talks will be held at the earlier possible time following the funeral procession of Iran's former Supreme Leader Ali Khamenei.

U.S. stock futures ticked higher ahead of the key monthly jobs report due later in the day, with consensus estimates pointing to a slowdown in hiring in June. The jobless rate, meanwhile, is expected to hold steady at 4.3 percent.

Asian markets were broadly lower as AI-related concerns triggered a sharp sell-off in semiconductor shares.

South Korea and Japan led regional losses after reports emerged that Apple Inc. is in negotiations to purchase chips from two Chinese semiconductor makers on a Pentagon blacklist to reduce the impact of an ongoing global memory chip shortage.

The U.S. dollar and Treasury yields were little changed while gold rose toward $4,100 an ounce as inflation risks ease.

Brent crude futures fell about 1 percent below $71 a barrel, reaching its lowest level in late February on signs of improved tanker traffic through Strait of Hormuz.

Overnight, U.S. stocks ended slightly lower, with chipmakers falling on concerns over lofty valuations and big AI spending.

The United States and Iran concluded a round of indirect talks on Wednesday without clear progress toward a lasting peace.

While U.S. President Donald Trump touted progress towards 'denuclearization', Iran's Deputy Foreign Minister Kazem Gharibabadi said the countries had agreed to establish a communication channel to report and record violations of their initial MoU.

In economic news, a survey showed U.S. manufacturing activity slowed in June after surging in the prior month. ADP said U.S. businesses added 98,000 new jobs in June - the smallest increase in three months.

At the annual ECB Forum in Sintra, Portugal, Fed Chair Kevin Warsh said inflation risks have eased in recent weeks while repeating his determination to bring inflation back to the 2 percent target. He avoided giving any rate path guidance.

The Dow finished marginally higher after reaching a record closing high in the previous session.

The tech-heavy Nasdaq Composite dipped 0.7 percent and the S&P 500 slid 0.2 percent, with gains in Meta Platforms helping cushion overall losses to some extent.

European stocks eased from record highs on Wednesday, with uncertainty about U.S.-Iran peace talks and the loss of momentum in the AI-driven tech rally contributing to the subdued trend.

The downside was capped after ECB President Christine Lagarde said risks to euro-area inflation and growth have become less pronounced.

The pan European Stoxx 600 fell 0.4 percent. France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 slid 0.2 percent while the German DAX edged up 0.2 percent.