European Shares Seen Higher As Netflix Reports Record Subscriber Growth
(RTTNews) - European stocks may open on a firm note Wednesday, with technology stocks likely to be in focus after Netflix Inc. reported its biggest quarterly subscriber gain in history and Trump announced a joint venture with OpenAI, Oracle and Softbank to invest billions of dollars in artificial intelligence infrastructure in the United States.
Trump called the project, dubbed Stargate, "the largest AI infrastructure project in history".
Asian stocks traded mixed, with technology stocks rallying in South Korea and Japan while Chinese and Hong Kong markets fell after Trump threatened tariffs on the EU and China to address trade imbalances and combat fentanyl trafficking.
The dollar weakened in Asian trade, helping gold reach an 11-week high. Oil prices were little changed after falling sharply in the previous session as Trump's energy emergency order fueled concerns about oversupply.
Overnight, U.S. stocks ended on a firm note as bond yields dipped on rate-cut optimism and Trump's Inauguration Day policy announcements on tariffs looked more benign than expected.
The Dow rallied 1.2 percent, the S&P 500 jumped 0.9 percent and the tech-heavy Nasdaq Composite gained 0.6 percent.
European stocks also closed higher on Tuesday, led by financials and healthcare stocks.
The pan European STOXX 600 edged up by 0.4 percent. The German DAX added 0.3 percent, France's CAC 40 advanced half a percent and the U.K.'s FTSE 100 gained 0.3 percent.
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