(RTTNews.com) - European stocks are set to open on a steady note Tuesday, tracking a rise in U.S. stock futures and a broad recovery in Asia.
U.S. stock futures inched higher and Asian markets recovered from an early slide to trade mostly higher after China's securities regulator said it would enhance market liquidity, and encourage share buybacks and mergers and acquisitions by listed firms.
Market sentiment also got a boost amid reports that China is considering a tax cut to revive its flagging automotive market.
Gold prices edged down and the U.S. dollar firmed up on renewed worries about U.S-China trade tensions while oil dipped for a second day in the wake of conflicting signals about global supply trends.
The U.S. economic calendar remains light, with a report on consumer confidence for October awaited later in the day.
On the earnings front, Coca-Cola, General Electric, MasterCard and Pfizer will unveil their quarterly earnings results before the opening bell.
Overnight, U.S. stocks fell sharply on trade concerns after the Bloomberg said the U.S. announcement of the new round of tariffs on all remaining Chinese imports could come by early December.
Significantly, the report comes as U.S. President Donald Trump and China'sXi Jinping are expected to meet on the sidelines of a Group of 20 summit in Buenos Aires, Argentina, beginning November 30th.
The Dow dropped 1 percent, the tech-heavy Nasdaq Composite tumbled 1.6 percent and the S&P 500 shed 0.7 percent.
European markets rose on Monday after Italy dodged a ratings downgrade and media reports suggested that German Chancellor Angela Merkel would not seek re-election for party chief.
The pan-European Stoxx Europe 600 index gained 0.9 percent. The German DAX climbed 1.2 percent, France's CAC 40 index rose 0.4 percent and the U.K.'sFTSE 100 added 1.3 percent.
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