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European shares ticked up on Tuesday, fueled by anticipation for major U.S. tech earnings, while the dollar remained near a three-month high as investors braced for key U.S. labor market data. The pan-European STOXX 600 rose 0.3%, reaching its highest level in over a week. Major European indices were similarly in positive territory, with Germany’s DAX up 0.4%, Britain’s FTSE 100 gaining 0.5%, and France’s CAC 40 advancing 0.6%.
In Asia, Japan’s Nikkei ended 0.8% higher after a volatile start, extending Monday’s rally. Meanwhile, Hong Kong’s Hang Seng added 0.5%, though it pared back early gains of 1.6%, and Mainland Chinese blue-chip stocks dipped 1% as investors await next week’s leadership meeting for updates on economic stimulus.
The U.S. election has also influenced market sentiment, as polling remains tight, with some betting sites showing an edge for Republican Donald Trump over Democrat Kamala Harris. This political backdrop adds another layer of volatility as investors evaluate how the outcome could impact market conditions.
Tech Earnings on the Horizon
Investor focus this week is on earnings from major U.S. tech firms that have driven significant gains in Wall Street indices this year. Alphabet reports Tuesday, while Meta Platforms and Microsoft are set to release results Wednesday, followed by Apple and Amazon on Thursday. These “Magnificent Seven” companies have contributed substantially to market highs, and their results are expected to give crucial insights into the state of the tech sector amid global economic uncertainties.
Market Outlook
U.S. S&P 500 futures were up slightly following Monday’s 0.3% gain in the cash index, indicating cautious optimism ahead of tech earnings and the U.S. labor data. This data will likely play a significant role in shaping Federal Reserve policy expectations.
