European stocks open lower ahead of U.S. earnings releases

This is CNBC's live blog covering European markets.Global gains were powered by dovish comments from U.S. Federal Reserve officials, including Bank of Atlanta President Raphael Bostic, triggering a repricing of bets on another hike this year.European stocks were set to open slightly lower Friday, according to IG data.

China's producer price index fell 2.5% from a year earlier, weaker than economists' expectations for a 2.4% decline.A Zomato delivery driver in New Delhi, India. The analysts expect the South Asian country to give"one of the highest returns among key markets throughout the world for the next several years."Thursday's consumer price report for September was"modestly hotter-than-expected" and insufficient to stop the Federal Reserve from raising rates one more time before the end of 2023, according to Wolfe Research chief investment strategist Chris Senyek.

Over the medium, Senyek believes the lagged effect of the Fed's rate hikes since March 2022 will eventually"spark economic disappointments, rising recession concerns and a downward EPS revision cycle in the months ahead," and that declining interest rates will be insufficient to offset the downward bias.

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