European stock markets are likely to open flat on Friday after a sell-off on Wall Street as earnings remain in focus for investors.
The regional Stoxx 600 is set to open flat, the FTSE 100 lower by 0.28% and the DAX higher by 0.3%, according to CNBC’s calculation of FactSet futures data. Meanwhile, France’s CAC 40 and Italy’s MIB are expected to rise by about 0.3%
European firms Kingspan Group, Standard Chartered, Air Liquide, Sika AG and others are set to report their fourth-quarter earnings.
Overnight in the United States, the three major averages closed lower after the S&P 500 hit record highs for two consecutive days. Investors sold off shares of some popular companies following a weak forecast from retail giant Walmart, which raised concerns about the economic outlook.
The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65. The S&P 500 shed 0.43% and closed at 6,117.52, and the Nasdaq Composite dipped 0.47% and closed at 19,962.36.
In Asian markets, Hong Kong’s Hang Seng Index rose 2.98% to its highest level since February 2022, according to data from LSEG.
Shares of Hong Kong listed Alibaba rose 12.9% following a significant profit increase for the company in the December quarter, driven by growth in its Cloud Intelligence division and e-commerce sector.
