European stocks are expected to open higher Tuesday following a solid rebound in Asia trading as global markets regain some poise in the wake of a Trump-induced selloff that's dragged the Dow into it longest losing streak in six years.
Britain's FTSE 100 is likely to add around 24 points at the opening bell, according financial bookmakers IG, with 56 points priced in for the DAX performance index and 16 points for the CAC-40 benchmark in Paris.
The solid start follows gains in Asia trading overnight that were, again, supported by a weaker U.S. dollar, which continued to trade at early November lows after attempting a rebound in late New York trading on Tuesday. With the dollar index, a measure of the greenback's strength against a basket of six global currencies, trading at 98.97, investors moved cash into emerging market stocks and raw commodities, boosting benchmarks around the region.
The MSCI Asia ex-Japan index was marked 0.63% higher by 06:45 GMT while Japan's Nikkei 225 rebounded from multi-week lows Monday to end the session 0.98% to the good at 19,174.33 points.
The weaker greenback has helped lift global oil prices from multi-month lows, offsetting market concerns that rising U.S. production levels are more than absorbing the impact of OPEC-agreed output cuts.
WTI futures for May delivery were marked 22 cents per barrel higher at $47.95 while Brent contracts for the same month, the global benchmark, were seen 21 cents higher at $50.96.
The Dow Jones Industrial Average ended Monday in the red, its eighth day of losses in a row and its longest losing streak since August 2011. Stocks were under pressure for much of the day as Wall Street contemplated the way forward for the Trump White House after its defeat on health care reform.
The Dow fell 0.22%, or by 45 points, the S&P 500 was down 0.10%, and the Nasdaq added 0.20%. However, stocks had seen far worse losses earlier in the day with Dow down by more than triple digits.
Early indications from U.S. futures suggest the Dow could snap its 8-day losing streak with a 35 point gain at the start of trading, while the S&P 500 is likely to rise 5.75 points and the Nasdaq 15.1 points.