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BEFORE THE BELL: EUROPE STEADY, CHINA TECH EYED
European shares were set to steady at pre-Liberation-day levels on Wednesday, as a rally built on optimism over the tariff deal lost steam and Wall St regained favour among investors after markets priced out risk of recession in the world's No.1 economy.
Goldman Sachs this week lifted its S&P 500 target to incorporate lower tariff rates and better economic growth.
Attention was also on the earnings season, with results from Tencent and Alibaba on Wednesday and Thursday, respectively, seen as a test for any further gains in the Chinese tech sector following the trade truce between Washington and Beijing.
In Tokyo, PlayStation maker Sony 6758.T forecast flat operating profit after factoring in a 100 billion yen ($680 million) hit from U.S. President Donald Trump's trade war.
EuroSTOXX50, DAX and FTSE futures were trading between a 0.1% rise and a 0.3% fall, while Nasdaq contracts added 0.2%. Several U.S. tech firms announced AI deals in the Middle East, as President Trump's Gulf tour secured $600 billion in Saudi commitments to US companies.
Thursday is the next key day for events, with April's U.S. retail sales and PPI, alongside a speech from Fed Chair Powell.
In European corporate news, Dutch bank ABN Amro ABNd.AS was the latest lender to beat market forecasts, helped by strong income from fees and commissions.
Elsewhere, heightened demand uncertainty led Daimler Truck DTGGe.DE to cut its 2025 forecast, while luxury firm Burberry BRBY.L topped expectations as brand sentiment was improving.
A Berenberg upgrade to buy could support wind turbine maker Vestas VWS.CO, one day after renewable stocks topped gainers in Europe in relief that a U.S. proposal to repeal some climate measures were not as bad as feared.
(Danilo Masoni)
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MARKETS NEAR EVEN KEEL AMID TRADE DEAL HOPE CLICK HERE