General view of Bishopsgate in the City of London, the capital’s financial district. The UK economy has reportedly seen faster growth than initially estimated in early 2024.
Vuk Valcic | Sopa Images | Lightrocket | Getty Images
LONDON — European stocks are expected to open higher Thursday as global markets look ahead to the next U.S. inflation reading.
The U.K.’s FTSE index is seen opening 20 points higher at 8,210, Germany’s DAX up 37 points at 18,451, France’s CAC 40 up 7 points at 7,585 and Italy’s FTSE MIB up 45 points at 34,512, according to data from IG.
Thursday’s inflation report could cement expectations that the U.S. Federal Reserve will cut interest rates in the coming months. Recent economic releases have suggested that inflation and economic growth are both cooling, including last week’s report that unemployment in June ticked up to 4.1%.
The consumer price index report for June will be released at 8:30 a.m. ET.
On the data front, U.K. gross domestic product figures for May are due. There are no major earnings.