This is CNBC’s live blog covering European markets.
European markets are heading for a mixed open Tuesday as investors continue to assess the outlook for central bank interest rate cuts.
The prospect of rate cuts, and more imminently another hold from the U.S. Federal Reserve at its next policy meeting in mid-December, sent the S&P 500 to a 2023 high last Friday after a five-week winning streak. Meanwhile, the Dow Jones Industrial Average in November enjoyed its best month since October 2022.
The upward momentum continued despite Fed Chair Jerome Powell’s efforts to temper market expectations for incoming rate cuts, as he argued it was “premature to conclude with confidence” that monetary policy was “sufficiently restrictive.”
Gold prices notched a record high on Monday for a second consecutive day, with spot prices touching $2,100, with analysts citing geopolitical uncertainty, a likely weaker U.S. dollar and possible interest rate cuts as further catalysts for bullion heading into next year.
Overnight, Asia-Pacific markets fell across the board as investors assessed a slew of economic data from across the region. U.S. stock futures ticked down Monday night after the major averages took a break from their latest hot streak.
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— Ganesh Rao
European markets: Here are the opening calls
European markets are heading for a mixed open Monday.
The U.K.’s FTSE 100 index is expected to open 8 points lower at 7,499, Germany’s DAX up 10 points at 16,418, France’s CAC down 3 points at 7,328 and Italy’s FTSE MIB down 15 points at 29,937, according to data from IG.
Euro zone producer price data for October is due.
— Holly Ellyatt
Read More: European markets head for mixed open as rally stalls – NBC10 Philadelphia