LIVE MARKETS-Europe before the bell: futures steady, markets await catalyst

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EUROPE BEFORE THE BELL: FUTURES STEADY, MARKETS AWAIT CATALYST

European shares look set for a steady open on Thursday, before another gaggle of Fed policymakers deliver speeches later in the day, as markets bide time before the next big data release, August's personal consumption expenditures (PCE) report on Friday.

PCE is the Fed's targeted inflation measure. Any sign of rising price pressures could see markets scale back expectations for rate cuts after the Fed lowered borrowing costs last week.

Futures imply about a 92% chance they cut rates again next month.

For now, European futures are holding steady. Euro STOXX 50 STXEc1 futures are little changed. Futures on the DAX FDXc1, CAC FCEc1 and FTSE FFIc1 are down 0.2% to up 0.1%.

The autos sector .SXAP could be in focus again, after data showed sales in the EU, Britain and European Free Trade Association rose 4.7% last month, including a 2.2% increase at Stellantis STLAM.MI, the company's first monthly sales growth since February 2024.

Swedish fashion retailer H&M HMb.ST reported a bigger-than-expected rise in Q3 operating profit, but said it expected local currency sales to be flat in September.

(Samuel Indyk)

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