European markets head for negative open as sentiment shifts; UK inflation data ahead
The U.K.'s FTSE index is seen opening 0.18% lower, Germany's DAX 0.6% lower, France's CAC 40 down 0.56% and Italy's FTSE MIB 0.56% lower.
Regional bourses traded higher on Tuesday as global markets reacted broadly positively to the outcome of talks between U.S. President Donald Trump, Ukrainian President Volodymyr Zelenskyy and European leaders at the White House on Monday. Defense stocks were among the worst performers in the index, however.
On the data front, the U.K. inflation print for July will be published at 7 a.m. London time. Economists polled by Reuters had anticipated inflation would reach 3.7% in the twelve months to July, after it picked up to a hotter than expected 3.6% in June.
Earnings come from Alcon and Geberit and Sweden's Riksbank publishes its latest monetary policy decision.
Globally, Asia-Pacific markets fell overnight, tracking Wall Street declines in Tuesday's trading session. S&P 500 futures were near flat overnight ahead of the release of the Federal Reserve's July meeting minutes.
At the time, policymakers once more held steady on interest rates, but Fed Governors Christopher Waller and Michelle Bowman dissented, marking the first time two voting Fed officials have done so since 1993.
Traders are also focusing on key speeches from Fed officials when they convene in Jackson Hole, Wyoming, for the Fed's annual economic symposium on Thursday. Investors are awaiting clues from Fed Chair Jerome Powell as to what will happen at the central bank's remaining policy meetings this year.
The Fed funds futures market is indicating an 84.9% chance for a quarter-point rate cut at the Fed's next policy meeting in September, according to CME's FedWatch tool.
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