European stocks are set to drift modestly lower at the start of trading Friday as investors await a key series of economic growth figures Britain and the United States as well as an estimate of the pace of inflation in the Eurozone.
None of the early market moves, however, are expected to be significant in the final day of trading that has seen back-to-back triple digit gains for U.S. stocks and multi-month highs for both the pound and the euro against the greenback amid a host of stellar corporate earnings and a less-than-impressive tax reform proposal from U.S. President Donald Trump.
SMALL INVESTMENT, BIG POTENTIAL. TheStreet’s Stocks Under $10 has identified a handful of stocks with serious upside potential. See them FREE for 14-days.
Against that backdrop, stocks softened overnight in Asia as investors took profits at the end of a bullish week and trimmed risky bets amid some increasing rhetoric from Trump over the a looming nuclear showdown with North Korea.
The region-wide MSCI Asia ex-Japan index was marked -0.15% by 06:45 GMT while Japan’s Nikkei 225 fell -0.3% to close at 19,196.74 points following disappointing manufacturing and inflation data.
Oil prices managed a small rebound, however, after falling more than 2% yesterday amid concerns over a glut in global supply, as investors focused on the chance of an extension in OPEC’s 1.8 million barrel per day production cuts at the end of June.
WTI closed future for June delivery were marked 1.02% higher at $49.47 while Brent contracts were seen 1.53% higher at $52.23.[:]