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European Stocks Edge Lower On Mixed Economic Data, Stalled US Stimulus Talks

U.S. stock futures are trading up after President Donald Trump tweeted in support of the airline relief bill and Payroll Protection Program.

· 10/07/2020 04:39

U.S. stock futures are trading up after President Donald Trump tweeted in support of the airline relief bill and Payroll Protection Program. Tuesday's fall on Wall Street did not dent Europe's mood at the open, but European stocks dipped in early trade after mixed economic data.

Euro Stoxx 50 index is down 0.08% at press time. European Central Bank President Christine Lagarde is due to speak later in Paris Wednesday, and investors will be watching for hints on interest rate decisions.

London's FTSE index is trading down 0.30% at press time. The United Kingdom's Housing Price Index grew 1.6% month-over-month in September, pushing past the consensus of 1.5% growth. The index grew 7.3% year-over-year. The U.K.'s House Price Balance and second quarter's Labor Productivity numbers are due later Wednesday.

Germany's DAX is trading down 0.17% after the country's industrial production in August declined 0.2% versus consensus of 1.5% growth. 10-Year German Bund Auction is due later Wednesday.

France's CAC 40 index is trading down 0.05% at the time of publication. France's Current Account deficit narrowed to €4.7 billion in August compared to €5.7 billion in September.

Spain's IBEX index is trading down 0.30% after industrial production data for August showed a decline of 5.7% in-line with expectations.

U.S. Dollar Index futures are trading flat at 93.745, as the dollar weakens against the Euro to $1.1758, and against the Sterling to $1.2920.

iShares MSCI Eurozone ETF (BATS:EZU) fell 1.1% on Tuesday and is down 8.21% year-to-date.