European Shares Seen Lower As Investors Await US Data

Market Overview - European stocks are expected to open sluggishly as investors await key U.S. economic data, including retail sales, pending home sales, producer prices, and consumer confidence, which may influence inflation and consumer spending patterns [1] - U.S. stock futures have edged lower after a rebound in major averages, driven by strength in the artificial intelligence sector and renewed hopes for a Federal Reserve interest rate cut, with an over 80% chance of a quarter percentage point cut priced in for December [2] Company-Specific Developments - In extended trading, Alphabet shares rose while Nvidia and AMD shares declined after reports that Meta is considering using Alphabet's custom chips for its data centers [3] - The tech-heavy Nasdaq Composite surged 2.7%, influenced by comments from Federal Reserve officials indicating potential easing next month, while the S&P 500 and Dow also saw gains of 1.6% and 0.4% respectively [5] Economic Indicators - The dollar index remained steady, oil prices decreased due to oversupply concerns, and gold prices slightly increased after a nearly 2% rise in the previous session [4] - U.S. stocks started the Thanksgiving trading week positively, driven by optimism in AI, expectations of a Federal Reserve rate cut, and progress in discussions regarding the Russia-Ukraine conflict [4]