European Shares Likely To Open On Subdued Note

(RTTNews) - European stocks are seen opening mostly lower on Monday as investors await more economic data in the coming days for fresh insights into the U.S. economic and rate outlook.

Ahead of the Federal Reserve's next rate decision in December, Minneapolis Fed president Neel Kashkari flagged "resilience" in the U.S. economy and continued concerns over inflation.

Traders now see less than 50 percent odds of a quarter-point rate cut next month, down from about 95 percent a month ago.

U.S. stock futures ticked higher as Warren Buffett's Berkshire Hathaway disclosed a new $4.3bn stake in Google-parent Alphabet and focus shifted to upcoming Nvidia earnings due this week.

Asian markets traded mixed as tourism-related stocks tumbled amid a worsening diplomatic standoff between China and Japan.

China warned its citizens not to travel to Japan following remarks by new Japanese Prime Minister Sanae Takaichi regarding a possible military stance over Taiwan.

The dollar held steady after the Trump administration rolled back tariffs on more than 200 food products, including such staples as coffee, beef, bananas, orange juice, avocados and coconuts, in the face of growing angst among U.S. consumers about the high cost of groceries.

On the trade front, U.S. Treasury Secretary Scott Bessent said the rare earths deal between the United States and China will "hopefully" be done by Thanksgiving.

Elsewhere, figures from a leading property website have suggested that sales of the U.K.'s most expensive homes have plummeted in October ahead of finance minister Rachel Reeves' budget.

Many small business owners are worried that the upcoming Autumn Budget could hit their growth prospects and finances hard.

Oil prices were down about 1 percent in Asian trading as activity resumed at the key Russian export hub of Novorossiysk after a two-day suspension at the Black Sea port following a Ukrainian attack.

U.S. President Donald Trump on Sunday said that Republican lawmakers are working on legislation that will impose strict sanctions on any country engaged in business or trade with Russia.

He also indicated that Iran may be added to the list of nations that could face penalties under the proposed law.

Gold was little changed, after having lost more than 2 percent in the previous sessions on dwindling rate-cut bets.

U.S. stocks ended mixed on Friday, a day after Wall Street logged its worst session in more than a month on concerns about tech valuations and the outlook for interest rates.

The tech-heavy Nasdaq Composite inched up 0.1 percent to snap a three-day losing streak, while the S&P 500 edged down marginally and the Dow dipped 0.7 percent as a slew of Fed officials warned that inflation progress could slow or stall, denting the prospects for another interest rate cut in December.

European stocks closed lower on Friday amid renewed concerns about an artificial intelligence bubble and the global economy.

The pan-European Stoxx 600 gave up 1 percent. The German DAX dropped 0.7 percent, France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 lost 1.1 percent.