©Reuters. File photo: German stock index DAX graph taken on February 2, 2024 at the Stock Exchange in Frankfurt, Germany.Reuters/Staff/File Photo
(Reuters) – Investors turned cautious ahead of key U.S. consumer price data in determining the Federal Reserve’s interest rate trajectory, while also assessing the latest in corporate earnings earlier in the day As a result, European stocks fell on Tuesday.
The pan-European index was down 0.2% from a two-year high by 0806 GMT, while interest rate-sensitive tech stocks hit a one-week low after falling 1.3%.
All eyes will be on the US consumer price index for January, due at 1330 GMT (5:30 p.m. Japan time), which will shape investors’ expectations about when the central bank is likely to cut interest rates. It will help you.
The ZEW business confidence survey for Germany and the euro area is scheduled to be released at 10pm Japan time.
Among earnings contenders, TUI shares rose 6.7% after Europe’s largest travel company reported better-than-expected numbers for the first quarter after turning a profit on strong demand. It became the top of STOXX600.
ThyssenKrupp (ETR:) Nucera rose 5% after the German hydrogen company’s first-quarter sales rose by more than a third, citing increased demand for its electrolyser technology.
Randstad rose 0.2% after the Dutch recruitment firm’s fourth-quarter core earnings met market expectations, with strong margins and cash generation offsetting lower revenue.
