European stocks rallied on Tuesday, following a global market downturn triggered by worries about a potential AI breakthrough in China. The market focus shifted to upcoming economic data releases, including consumer confidence and GDP figures from Germany, Spain, and Italy. Additionally, investors await the Federal Reserve's interest rate decision on Wednesday, with almost complete certainty that rates will remain unchanged.
for the fourth quarter. Net bookings, a key indicator of order demand, rose 169% from the previous quarter. CNBC will be speaking to the firm's CEO Christophe Fouquet on"Squawk Box Europe" just after 7 a.m. London time.Other data releases include Germany's GfK consumer confidence, Spain's latest quarterly gross domestic product data and Italian business and consumer confidence data.
Fed funds futures data reflect a nearly 100% certainty that the central bank will keep rates steady at a target range of 4.25% to 4.50%, according to. Nonetheless, the decision, and Fed Chair Jerome Powell's press conference afterward, will be closely watched for more clues on the outlook for interest rates this year.
Broad stock market indexes would suffer in 2025 if Big Tech leaders continue to falter but the average stock is likely to"hold up well," according to Capital Economics senior markets economist James Reilly.
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