European Markets Head for Higher Open

European equity markets were headed for a higher open on Wednesday, tracking global peers higher as investors look ahead to a key US inflation report that could provide clues on the Federal Reserve’s next move. Meanwhile, Fed Chair Jerome Powell avoided making comments on the outlook for monetary policy at an event on Tuesday, but he said that “restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy.” It will be a quiet day on the data front in the eurozone, though investors are awaiting the latest corporate earnings results. DAX futures were up about 0.3% in early trade, while Stoxx 6000 futures rose 0.15%.

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