Premarket: European stocks steady after Wall Street record, oil prices slump

European shares and U.S. futures were little changed on Tuesday after Wall Street scaled record highs overnight, while oil prices dropped on a report that Israel will refrain from striking Iranian energy targets.

Germany’s DAX stock index climbed 0.3% to a record high but Britain’s energy-focused FTSE 100 was down 0.4%. “Super-sized tech stocks are taking the lead as they get ready to report the strongest earnings growth of all sectors again this quarter.” Brent crude futures fell 4.2% to $74.19 a barrel, having dropped 2% overnight, with the market focused on China’s economic slowdown and lower OPEC demand forecasts.

“Chinese shares have surged since the September politburo meeting on hopes that major fiscal stimulus may be on the way. A lack of details so far has disappointed some investors, so we eye policy announcements for more clarity,” analysts at BlackRock Investment Institute, led by Wei Li, said in a research note.

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