European Markets Muted As Investors Digest Major Earnings, Await Fed Decision

  • Posted on July 28, 2021
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  • By FC Team
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LONDON — European markets were mixed on Wednesday morning amid a busy day for major corporate earnings, while investors awaited a key policy announcement from the U.S. Federal Reserve.The pan-European Stoxx 600 inched 0.1% higher in early trade, with travel and leisure stocks adding 0.9% while chemicals fell 0.7%.Shares in Asia-Pacific were mostly lower on Wednesday as Hong Kong’s Hang Seng index struggled to rebound from a two-day rout. U.S. stock futures also pointed to a negative open on Wall Street, after the major averages snapped a five-day winning streak on Tuesday.Focus stateside will turn to the Federal Open Market Committee’s interest rate decision and subsequent statement, with investors looking for clues as to the timeline for monetary policy tightening. A deluge of major corporate earnings is also expected in the U.S., with Facebook, McDonald’s, Ford, Pfizer and Boeing among those reporting on Wednesday.It’s also a huge day for earnings in Europe, with Deutsche Bank, Barclays, British American Tobacco, GlaxoSmithKline, Rio Tinto, BASF and Santander set to publish results.cnbc,com

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