European Shares Poised For Steady Open

(RTTNews) - European stocks are seen opening flat to slightly higher on Thursday after the annual rates for both U.S. headline and core inflation eased slightly from June, prompting bets the Federal Reserve would leave its policy rate unchanged at its September meeting.

That said, a cautious undertone may prevail as attacks on ships in the Middle East continued and the U.S. and Iran remained deadlocked over efforts to permanently end their five-month-old war.

After reports emerged that the United States and Iran have agreed to extend a 60-day ceasefire brokered by Pakistan, a senior Iranian official reportedly said there had been no progress in talks to revive a June interim agreement and define a time frame to implement it.

Asian markets were broadly higher as technology shares extended gains on renewed optimism over artificial-intelligence spending.

The U.S. dollar treaded water while gold was subdued at $4,397 an ounce ahead of the release of U.S. producer price index later today and readings on retail sales and consumer sentiment due on Friday.

Brent crude futures were slightly lower below $89 a barrel, snapping a six-day advance after EIA data showed a massive increase in U.S. oil inventories last week and U.S. President Trump reiterated that the United States is in control of the Strait of Hormuz and there is nothing Iran can do about it.

Overnight, U.S. stocks ended mixed as benign consumer-inflation data and strong quarterly results and forecasts from CoreWeave and Super Micro Computer offset concerns over stalled U.S.-Iran negotiations to reopen the Strait of Hormuz.

Data showed consumer prices inched up 0.1 percent month-on-month and 3.4 percent annually in July, matching expectations. Core inflation, which excludes volatile food and energy prices, rose 0.2 percent on a monthly basis and 2.5 percent year-on-year.

While the Dow finished marginally lower, the S&P 500 rose 0.3 percent and the tech-heavy Nasdaq Composite gained half a percent.

European stocks eased from record highs on Wednesday as fresh attacks on shipping in the Middle East raised concerns over further supply disruptions.

The pan-European STOXX 600 fell 0.2 percent. The German DAX dipped 0.2 percent, France's CAC 40 shed half a percent and the U.K.'s FTSE 100 slid 0.1 percent.