Mixed European Open Amid Nvidia Earnings and US Inflation Data
European stocks opened mixed on Wednesday as investors looked ahead to US inflation data and earnings from Nvidia, a tech giant.
The Stoxx 600 index had dipped by 0.02% to 656 at 7:29 GMT. Meanwhile, the DAX, FTSE 100, and AEX were all down, while France's CAC 40, Italy's MIB, and Spain's IBEX made gains.
Brent crude prices fell for a third straight day due to renewed talks between Iran and Oman over safe passage through the Strait of Hormuz. The benchmark oil price dropped by 2.45% to $86.45 per barrel.
The Federal Reserve's preferred measure of inflation, personal consumption expenditure data for July, is expected to be released later in the day. Analysts forecast a rise in headline inflation to 3.6%, with core inflation predicted to reach 3.2%, excluding volatile energy and food prices.