European stocks are set to open higher Friday morning, tracking overnight gains on Wall Street amid elevated expectations of strong U.S. earnings.
Market focus is largely attuned to the next potential steps of the U.S.-Sino trade conflict. The U.S. slapped import tariffs of 25 percent on $34 billion worth of Chinese products on July 6, prompting Beijing to propose retaliatory measures.
Yet while Beijing has vowed to hit back against Washington, the lack of detail over a specific response has sparked global relief in financial markets, buoyed by expectations of robust corporate earnings.
Most Asian equities rose on Friday morning, though China’s stock market wobbled as investors prepared for the impact of tit-for-tat U.S.-Chinese tariffs. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.6 percent.
Back in Europe, President Donald Trump continues his working visit to Britain. The U.S. president is scheduled to hold engagements in London and Scotland on Friday, while several protests against his visit are set to take place from midday.
European markets seen higher amid global trade war fears; Trump visits the UK