(RTTNews) – European stocks are expected to open higher on Wednesday, as markets wait for more signals on the Fed’s next step and monitor the latest developments related to the South African variant of the coronavirus.

Asian markets rose largely amid optimism surrounding China after Chinese Vice Premier Liu He pledged increased business support and said he expects a strong 2021.

A Caixin-sponsored survey showed earlier today that activity in China’s manufacturing sector contracted in November for the first time in three months.

Elsewhere, Australia’s third-quarter GDP was better than expected, factory activity in Japan increased in November at the fastest pace in nearly four years, factory activity in South Korea s It is further developed in November and the Indian economy recorded a healthy growth rate of 8.4% in July. -September.

UK store prices rose for the first time in two and a half years in November due to rising food prices, data from the British Retail Consortium showed earlier today. The store price index gained 0.3% year-on-year in November, reversing a 0.4% drop in October.

The final results of the Eurozone Purchasing Managers’ Survey, UK house price data and German retail sales figures for October are expected later in the session, topped by a busy day for European economic news.

Across the Atlantic, trade may be affected by the reaction to reports on private sector employment and manufacturing activity.

The 10-year US Treasury yield edged up but remained below 1.50%. The dollar index eased, helping gold recover from a one-month low. Oil attempted a recovery after a three-month low before a meeting of the Organization of the Petroleum Exporting Countries.

Overnight, U.S. stocks fell sharply after Moderna CEO Stéphane Bancel said existing Covid-19 vaccines would struggle to counter the Omicron variant.

Markets fell further after Fed Chairman Jerome Powell said in congressional testimony that the emergence of Omicron has increased uncertainty around inflation and the Fed may put its relaunch from the pandemic era ended sooner than expected.

The Dow Jones and S&P 500 both fell around 1.9% to their lowest closing levels in at least a month, while the technology-heavy Nasdaq Composite index lost 1.6 %.

European stocks also ended lower on Tuesday amid growing uncertainty over economic growth and inflation.

The pan-European Stoxx 600 lost 0.9%. The German DAX lost 1.2%, the French CAC 40 index fell 0.8% and the UK FTSE 100 slipped 0.7%.

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