Major European markets are pointing in different directions ahead of Wednesday’s open.
The anticipated mixed trade echoes Asian markets, which were affected by investor worries about global trade after U.S. President Donald Trump on Tuesday approved tariffs on solar cells and washing machines imported to the United States. South Korea said it will bring the matter to the World Trade Organization.
Wednesday is heavy on the release of European economic data, with French and German manufacturing PMI flashes out Wednesday morning, among others.
Dutch supermarket chain Ahold Delhaize is to release its fourth quarter and full year trading statements for 2017, while Swiss drugmaker Novartis is also due to publish its full year earnings for 2017.
In Europe, the world’s business and political elite continue their conclave at the mountain resort of Davos, Switzerland, for the World Economic Forum’s Annual Conference. French president Emmanuel Macron is to speak this afternoon. Trump and a delegation of White House officials are scheduled to depart Washington for the meeting on Wednesday.
Looking to the U.S., oilfield services company Baker Hughes is set to release quarterly earnings, as will Detroit-based automaker Ford. The Nasdaq closed at a record high Tuesday on Netflix‘s stronger-than-expected subscriber growth.
European markets set for mixed open on concerns about a US trade war