European Shares Seen Tad Higher With US PCE Data In Focus

(RTTNews) - European stocks are seen opening a tad higher on Friday as focus shifts to the U.S. economic calendar.

September's delayed consumer spending and incomes data as well as the personal consumption expenditures index, the Fed's primary inflation gauge, will be in the spotlight later today, heading into next week's FOMC meeting.

The PCE index is likely to show price pressures under control, keeping the Fed on track to deliver a 25-basis point interest-rate cut next week in its last meeting of the year.

Also, the University of Michigan will release its consumer survey for December.

The November jobs report, originally due Dec. 5, will be published on Dec. 16 as a result of the record-long government shutdown. The report will also include October payrolls figures.

Asian markets were mixed in cautious trade, with Japan's Nikkei falling more than 1 percent amid BOJ rate-hike bets.

Gold was a tad higher above $4,200 per ounce and the dollar index was set for a second weekly decline while oil prices were poised for a second consecutive weekly gain.

Overnight, U.S. stocks ended narrowly mixed as investors braced for next week's interest-rate decision from the Federal Reserve.

Treasury yields moved higher after data showed first-time claims for U.S. unemployment benefits unexpectedly fell to a three-year low in the week ended November 29.

Consulting firm Challenger, Gray and Christmas said that U.S. job cuts bumped past the 1 million threshold for 2025 in November as corporate restructuring, artificial intelligence and tariffs helped pare job rolls.

The tech-heavy Nasdaq Composite edged up by 0.2 percent and the S&P 500 closed 0.1 percent higher to extend gains for a third day while the narrower Dow finished marginally lower.

European stocks closed higher on Thursday, with Ukraine peace talks and upcoming central bank meetings in focus.

The pan European Stoxx 600 gained half a percent, supported by a rebound for major banks and automakers.

The German DAX climbed 0.8 percent, France's CAC 40 rose 0.4 percent and the U.K.'s FTSE 100 added 0.2 percent.