04.09.202606:18:56UTC+00European Stocks Set for Positive Open

European equity markets were poised to open slightly higher on Friday, following gains in global markets as traders pared back expectations of a Federal Reserve rate hike this month. The shift came after Fed Governor Christopher Waller indicated he would support holding rates steady if inflation continues to ease. Market pricing now reflects roughly even odds of a 25-basis-point increase in September, down from about 70% earlier in the week.

In Europe, investors will focus on a slate of fresh data, including German factory orders, Italian retail sales, and UK new car registrations, as well as construction PMI readings from across the region.

On the corporate front, Volkswagen AG’s supervisory board has approved a major restructuring plan that includes about 50,000 additional job cuts, a streamlined model range, and a smaller industrial footprint. In premarket trading, futures on both the Euro Stoxx 50 and the Stoxx 600 were up around 0.1%.