European Shares Likely To Open On Steady Note

(RTTNews) - European stocks are poised to open higher on Wednesday after large tech stocks rebounded on Wall Street overnight.

That said, the upside may remain limited, and volatility cannot be ruled out due to impending French and U.K. elections and the iconic U.S. Presidential debate set to take place on Thursday.

The European economic calendar remains light, with Germany's GFK consumer survey results for July and European consumer confidence data for June awaited later in the day.

Across the Atlantic, investors eagerly await the release of May's personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge, on Friday for more clarity about the outlook for Federal Reserve's interest rates.

Analysts expect a slight decline in the annual rate at which prices are rising.

Asian markets traded mixed, with Japan's Nikkei surging over 1 percent to a two-month high led by technology stocks.

The yen lurked just shy of 160 per dollar level in the wake of hawkish comments from Federal Reserve officials.

Fed Governor Michelle Bowman has warned of upside risks to the inflation outlook while her colleague Lisa Cook said it will be appropriate to reduce interest rates "at some point."

Treasuries held steady after a $69 billion two-year U.S. sale got the expected yield and good demand.

Gold edged down slightly while oil inched up despite industry data showing a small build in U.S. crude inventories.

U.S. stocks closed mixed overnight as a measure of consumer confidence eased in June on a weaker outlook for business conditions, the job market and incomes.

U.S. house prices rose less than expected in April after stagnating in the previous month, while the Chicago Fed's measure of overall economic activity and related inflationary pressure in the country rose in May for the first time in three months, separate set of data revealed.

The Dow dipped 0.8 percent while the S&P 500 rose 0.4 percent and the tech-heavy Nasdaq Composite rallied 1.3 percent to snap their three-day losing streak.

European stocks closed on a weak note Tuesday as jitters resurfaced over impending French elections and Airbus's profit warning sparked a sell-off in the aerospace-related sector.

The pan European STOXX 600 eased 0.2 percent. The German DAX dipped 0.8 percent, France's CAC 40 shed 0.6 percent and the U.K.'s FTSE 100 gave up 0.4 percent.