European markets head for positive open as earnings roll in; traders react to Fed decision

European stocks are heading for a positive open on Thursday as global markets react to the U.S. Federal Reserve's latest monetary policy decision.Central bank policymakers kept rates steady in their May meeting, holding at a range of 5.25% to 5.5%, as expected. Federal Reserve Chair Jerome Powell said it was unlikely that the central bank's next move will be a rate hike.The comment spurred a rally for the three major U.S.

U.S. oil inventory levels have risen to the highest levels since June 2023 as refiners process less crude as demand for gasoline has softened. Citi has just refreshed its list of"highest conviction ideas" in Europe and recommended a specific trading strategy that investors can adopt right now.

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European stocks head for positive open despite Fed comments rattling global marketsEuropean stocks are expected to open in positive territory despite global markets being rattled by comments from the head of the U.S. Federal Reserve.
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