European Shares Seen Broadly Higher As Nvidia Earnings Beat Estimates

(RTTNews) - European stocks are seen opening broadly higher on Thursday, though London's FTSE 100 may drift lower at open, tracking lower oil prices on signs of diplomatic progress in the Middle East over the Strait of Hormuz.

Technology stocks may rise after bellwether Nvidia reported fiscal second-quarter results and guidance that topped Wall Street's forecast.

Asian markets were mixed as firmer-than-expected U.S. inflation data kept expectations for a Fed rate hike by year-end live.

Meanwhile, data showed earlier today that growth in China's industrial profits slowed for a third straight month to the weakest pace this year.

The U.S. dollar held near a one-week high ahead of Kevin Warsh's first Jackson Hole speech as Fed Chair on Friday that could provide further clues on the path for U.S interest rates.

Gold rose half a percent to $4,620 an ounce after a pullback on Wednesday. Brent crude futures slipped toward $87 a barrel, extending losses for a fourth consecutive session on easing supply concerns.

Qatar's Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani will visit the Iranian capital today in an effort to relaunch peace talks between the U.S. and Iran.

U.S. stocks ended slightly lower overnight while bond yields moved higher after a report showed inflation rose 3.7 percent in the 12 months through July, coming in slightly above expectations while core inflation stood at 3.3 percent.

Separate data showed the U.S. economy grew 1.5 percent in the second quarter, unchanged from the previous advance reading.

The Dow dipped 0.2 percent, the tech-heavy Nasdaq Composite slipped 0.1 percent and the S&P 500 finished marginally lower.

European stocks ended mixed on Wednesday after hawkish ECB rate warnings and reports suggesting that the U.S. and Iran have reached an interim ceasefire agreement that includes guarantees for unhindered commercial navigation through the Strait of Hormuz.

Sentiment was further helped by official statements from Iran and Oman confirming they had agreed on a temporary maritime route for ships travelling through the Strait of Hormuz.

The pan-European STOXX 600 ended little changed. While the U.K.'s FTSE 100 slipped 0.1 percent, the German DAX edged up marginally and France's CAC 40 rose 0.3 percent.