European stock futures mixed; central bank speakers, earnings in focus

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Investors anticipate that European stock markets will start the day on a subdued note on Thursday. They are eagerly awaiting further indications from central bank officials regarding the possibility of global interest rates reaching their highest point.

The DAX futures contract in Germany saw a 0.1% decline at 02:00 ET (06:00 GMT), while CAC 40 futures in France experienced a 0.5% decrease and the FTSE 100 futures contract in the U.K. dropped 0.1%.

Fed Chairman Jerome Powell will once again be the focus of attention.

Investors are expected to be uncertain about the European equities market on Thursday, as they assess if the recent surge was founded on stable factors.

Jerome Powell will once again be in the spotlight, as he is scheduled to speak at a conference later on Thursday. This comes after he provided limited information on monetary policy during a seminar on Wednesday.

However, there are other important figures who will also be speaking today. Philip Lane, the chief economist of the European Central Bank, and Huw Pill, the chief economist of the Bank of England, are scheduled to give their opinions at different events.

Global stock markets are once again experiencing a boost in confidence. This renewed optimism is mainly due to the belief that the Federal Reserve, the European Central Bank, and the Bank of England are less inclined to increase interest rates and more inclined to adopt measures that stimulate the economy.

China back in disinflation territory

In Europe on Thursday, there is a lack of economic data to analyze. However, the news from China, which is a significant destination for exports from Europe’s biggest companies, was not positive.

Government statistics released on Thursday revealed that inflation rates for both consumers and producers decreased in October, indicating that the country is experiencing disinflation for the second time this year.

In addition, the inflation information was released shortly after the disappointing trade data for October. Recent readings have indicated a continued decline in Chinese business activity throughout the month.

ArcelorMittal, a company listed on the New York Stock Exchange, is providing an optimistic view of the future.

ArcelorMittal, the second-largest steel producer globally, announced better-than-anticipated earnings for the third quarter in the corporate industry. Additionally, they expressed optimism regarding the future steel demand forecast in the medium and long term.

Henkel, a consumer goods company, has increased its guidance for the year. The third-quarter growth was boosted by good pricing. On the other hand, Merck KGaA has predicted that its total operating earnings for the year will probably be in the lower range of its target.

The profits made by companies such as WH Smith, Tate & Lyle, and Deutsche Telekom will also be analyzed and understood.

The price of crude oil increases, but worries about demand still persist.

On Thursday, there was a slight increase in oil prices as they tried to bounce back from their lowest point in over three months. However, concerns about declining demand in China and the U.S., which are the two largest economies globally, still persist.

In October, China, the largest importer of oil globally, experienced a return to disinflationary conditions according to recently released data.

The American Petroleum Institute, a trade organization, reported that U.S. crude oil supplies increased by nearly 12 million barrels in the previous week. If this information is verified by official data, it would mark the largest growth since February.

At 2:00 Eastern Time, the futures for U.S. crude oil increased by 0.6% to $75.78 per barrel, and the Brent contract rose by 0.7% to $80.06 per barrel. These prices represent the lowest levels reached since mid-July, which occurred on Wednesday.

Furthermore, the price of gold futures decreased by 0.2% to $1,953.85 per ounce, and the EUR/USD exchange rate remained relatively stable at 1.070