European markets open to close, earnings, data and news | Popgen Tech

The Stoxx 600 was up 0.2% at 08:55 on Friday. Like most major indexes, it’s had a bumpy ride this year—here’s how it fared:

Cyrus Mewawalla shares his outlook for big tech themes next year.

– Katrina Bishop

European markets are headed for a higher open on Friday, after closing the previous session in the red.

The UK’s FTSE 100 index is expected to open 17 points higher at 7,480, Germany’s DAX is seen up 50 points at 13,946, and France’s CAC is seen up 15 points at 6,523, according to data from IG.

No major earnings or data releases are expected.

– Katrina Bishop

Taiwan Semiconductor Manufacturing Co. is in talks with suppliers to build its first European chip plant in Dresden, Germany, the Financial Times reported, citing people familiar with the matter.

The company will reportedly send senior executives to Germany to discuss government support levels and local supply chain. The plant will aim to focus on 22nm and 29nm chip technologies, the report said.

Shares of the Taiwan-listed firm traded 2.8% lower in Asia trade on Friday.

– Jihye Lee

Automation and cost-cutting at many businesses during a recession will boost profits at two Silicon Valley companies, according to technology fund manager Jeremy Gleeson.

Gleeson, who manages a $1.5 billion technology fund at AXA, believes that if there is a recession next year, then “companies are going to have to do more with less.”

“One of the ways they can do that is by better leveraging technology to improve the productivity of their existing workforce,” he said, naming the two stocks that will benefit from the trend.

CNBC Pro subscribers can read more here.

– Ganesh Rao

The Bureau of Economic Analysis will release November’s personal consumption expenditure report – the Federal Reserve’s preferred inflation measure – on Friday morning.

The core price index for personal consumption expenditures, which excludes food and energy prices, is expected to have risen 0.2% in November — the same increase seen in October, according to economists polled by Dow Jones. On a year-over-year basis, the benchmark is expected to have climbed 4.6%, compared with 5.0% in October.

The BEA will also release personal income data. Economists are calling for a 0.3% increase in November, which would be a step down from October’s 0.7% gain.

The November data comes at a crucial time, reflecting the impact of the Fed’s six previous rate hikes in 2022 as the central bank tries to cool the economy. Policymakers issued their seventh rate hike on December 14, an increase of 50 basis points.

— Darla Mercado

Stock futures opened flat on Thursday night.

Futures tied to the Dow Jones Industrial Average fell 12 points, or 0.04%, while S&P 500 and Nasdaq 100 futures traded flat.

— Samantha Subin

High-growth tech stocks are unlikely to recover after a “pivot” on interest rates from the Federal Reserve, according to one market strategist.

CNBC Pro subscribers can read why Peter Toogood, chief investment officer at Embark Group, also believes stocks such as Platoon is an “absolute nonsense” trade for investors.

– Ganesh Rao