European markets in cautious mood ahead of Nvidia earnings

[Global Business Strategy on Digital Display]
Tom Werner

London (UKX [https://seekingalpha.com/symbol/UKX]) +0.14% to 9,280.

Germany (DAX:IND [https://seekingalpha.com/symbol/DAX:IND]) -0.03% to 24,146. Germany’s GfK consumer climate indicator fell to -23.6 heading into September.

France (CAC:IND [https://seekingalpha.com/symbol/CAC:IND]) +0.38% to 7,739.

The industrial confidence indicator in Slovakia rose in August.

Retail sales in Denmark increased by 2.7% Y/Y in July.

Finnish consumer confidence slipped to -7.6 in August.

The annual growth rate of lending to Swedish households edged up to 2.6% in July.

Norway’s seasonally adjusted unemployment rate fell to 4.5% in July.

The pan-European Stoxx 600 [https://seekingalpha.com/symbol/STOXX] (STOXX) [https://seekingalpha.com/symbol/STOXX] turned 0.13% higher to 554.9 on Wednesday as traders keenly watch out for chipmaker Nvidia earnings report for clues on the AI trade. Investors weighed French political risks over Prime Minister Francois Bayrou’s government. AI related trade—which has driven a large portion of this year's market gains but stalled in August—has been predicted by the stock's performance.

COMING UP IN THE SESSION: A lighter day on the economic calendar today.

IN THE BOND MARKET, the U.S. 10-year Treasury yield was up 1 basis point to 4.26%.

Germany's 10-year yield was down 2 basis points to 2.71%.

UK's 10-year yield was down 2 basis points to 4.72%.

CURRENCIES: (EUR:USD [https://seekingalpha.com/symbol/EUR:USD]) (GBP:USD [https://seekingalpha.com/symbol/GBP:USD]) (CHF:USD [https://seekingalpha.com/symbol/CHF:USD])

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MORE ON EURO AREA

* EUR/USD Price Steadies As Traders Weigh Politics And U.S. Data Risks [https://seekingalpha.com/article/4816909-eurusd-price-steadies-as-traders-weigh-politics-and-us-data-risks]
* A Detailed Look At The FX Market After The Powell Speech - Technical Levels [https://seekingalpha.com/article/4816180-detailed-look-at-the-fx-market-after-powell-speech-technical-levels]
* EUR/USD Slides With Focus Shifting To The Jackson Hole Symposium (Technical Analysis) [https://seekingalpha.com/article/4815831-eurusd-slides-with-focus-shifting-to-jackson-hole-symposium-technical-analysis]
* French PM Francois Bayrou calls for confidence vote over budget plan, fueling market unrest [https://seekingalpha.com/news/4489047-french-pm-francois-bayrou-calls-for-confidence-vote-over-budget-plan-fueling-market-unrest]
* European market in red as France's political risks mount [https://seekingalpha.com/news/4489042-european-market-in-red-as-frances-political-risks-mount]