European Shares Seen Mostly Higher At Open

(RTTNews) - European stocks are seen opening mostly higher on Tuesday after U.S. benchmark indexes saw their biggest rally in over seven months overnight, led by technology firms.

U.S. equity futures were mixed this morning, with Nasdaq futures declining as key inflation data and tech earnings loomed.

The release of October U.S. CPI report will be in the spotlight later today, with economists expecting smaller increases than in September.

Wholesale inflation numbers for October are scheduled for Friday, with the annual PPI expected to climb to 6.6 percent.

These inflation reports come amid growing expectations that the Federal Reserve will raise interest rates in December to contain price pressures.

Following upbeat U.S. jobs data released last week, markets currently price in an 84 percent chance of a rate hike at the Fed's December 8-9 meeting.

As AI spending worries mount, investors also await earnings results from cloud computing firm CoreWeave, semiconductor equipment maker Applied Materials and networking technology company Cisco this week for further direction.

Asian markets followed Wall Street higher, with benchmark indexes in Japan and South Korea rising 3-4 percent.

The U.S. dollar held on to overnight losses while gold slipped to $4,114 an ounce after a strong rally.

Brent crude prices fell toward $91 a barrel after falling almost 6 percent in the previous session to reach the lowest level since late August amid ongoing diplomatic efforts to end the Middle East conflict.

After meeting Qatar's Prime Minister at the White House, U.S. President Trump said there is positive momentum toward ending the Iran conflict.

U.S. stocks soared overnight, extending Friday's partial recovery from a sharp technology sell-off as falling oil prices helped ease inflation concerns.

Front-month Brent crude futures slumped nearly 6 percent after President Trump downplayed the prospect of further U.S. strikes on Iran but warned U.S. forces remained "locked and loaded."

Trump described the war as militarily "effectively over" but emphasized the continuation of the U.S. naval blockade and Operation Iron Gate.

Iran's security chief, however, accused the United States of fabricating reports of negotiations and demanded acceptance of Tehran's seven conditions to end the conflict.

The tech-heavy Nasdaq Composite jumped 2.7 percent, the S&P 500 climbed 2.4 percent and the Dow surged 2.2 percent despite allegations of espionage involving Nvidia CEO Jensen Huang.

European stocks also rallied on Monday, with a recovery in technology shares and declining oil prices supporting risk appetite.

The pan-European STOXX 600 advanced 1.3 percent. The German DAX surged 1.7 percent, France's CAC 40 rallied 1.2 percent and the U.K.'s FTSE 100 added 1 percent.