► In Europe, equities opened with gains. The Stoxx 600 is trading 0.5% higher, partially due to French inflation data which showcased a decline MoM, it's YoY inflation rate stood still at 4.9%. Investors look forward to additional inflation data from the Eurozone and Italy are due later today (09:00 UTC). It’s anticipated that the Eurozone’s inflation figures will fall below 5%, potentially alleviating pressure on the European Central Bank.
► Other economic news includes, Germany seeing a 2.3% year-over-year retail sales decrease in August. Additionally, the UK recorded a 0.6% GDP growth in Q2 2023 compared to the prior year.
► In the US, Wall Street finished higher on Thursday with tech giants like Nvidia and Meta taking the lead. Boosting the sentiment, comments from Richmond Fed’s Thomas Barkin implied that the US might avoid a drastic downturn. Additionally, Chicago Fed’s Austan Goolsbee warned of potential interest rate overshoot risks. US futures are also trading slightly higher in US pre-market trading.
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