European stock futures are lower;’s key technology gains due

© Reuters.

By Peter Nurse stock markets are expected to open slightly lower on Tuesday. Before the Fed meeting and major technology gains begin, the strong opposition from China’s regulatory crackdown continues to be felt.

At 2:05 am Eastern Time (0605 GMT), the German contract fell 0.3%, the French contract fell 0.1%, and the British contract fell 0.2%.

European stock markets will be largely negatively affected by Asia. Due to regulatory concerns about China’s broader technology industry, several major Chinese technology stocks listed in Hong Kong are under pressure for the third consecutive day.

In addition, due to high raw material prices dragging down the profit margins of factories, the growth rate of Chinese industrial enterprises slowed down for the fourth consecutive month in June, an increase of 20% from 36.4% in May.

However, before the major technology giants Apple (NASDAQ:), Alphabet (NASDAQ:) and Microsoft (NASDAQ:) announce their results, investors are studying the US electric car manufacturer Tesla (Nasdaq:). Starck:) Strong second-quarter results, losses may be limited. ) Late Tuesday. For most of the past year, these companies have been behind the massive gains recorded in major US indexes.

Equally interesting is the start of the Fed’s recent two-day period, which may see the U.S. Central Bank provide more information about the strength of the U.S. economy, as well as its thinking about when to start shrinking its huge asset—the procurement plan.

Back to Europe, Credit Suisse (6:) After the Archegos and Greensill scandals, former Goldman Sachs (NYSE:) employee David Wildermuth has been appointed as its new chief risk officer.

In the UK, the major earnings announcement of the day was Reckless (LON:), the company reported a huge net loss when it sold its IFCN business in China. The company also warned of rising cost pressures, but maintained its full-year revenue growth target.

The European economic data on Tuesday was basically empty. The main release that day was the US data for June, which should confirm that the country is accelerating its recovery.

Elsewhere, oil prices rose on Tuesday and rebounded after falling on Monday. Investors remain confident about the prospects for a recovery in global demand, even though some countries have tightened restrictions amid the recovery of Covid-19.

Investors are now waiting for oil supply data to be released later in the day.

At 2:05 am Eastern Time, US crude oil futures rose 0.4% to US$72.16 per barrel, while the contract rose 0.4% to US$73.96.

In addition, it fell 0.2% to US$1,795.75 per ounce, which was basically flat at 1.1797.

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