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EUROPE BEFORE THE BELL: GIVING BACK GAINS
European stock futures are a touch weaker on Monday and look set to give back most of Friday's gains following Fed Chair Powell's dovish turn at Jackson Hole.
Powell left the door open to a rate cut next month without fully committing to it. That was enough to push stocks higher but markets remain cautious given the stagflation risks ahead.
Euro STOXX 50 futures STXEc1 are down 0.4% after the index .STOXX50E rose 0.5% on Friday.
Futures on the DAX FDXc1 and CAC FCEc1 are down 0.4% and 0.2% respectively. British markets are closed on Monday for a public holiday.
Wall Street futures EScv1, NQcv1 are little changed on Monday, while Asia-Pac stocks .MIAPJ0000PUS have put in a strong performance overnight, up 1.6% at pixel time.
In corporate news, Keurig Dr Pepper KDP.O has agreed a deal to buy Dutch coffee company JDE Peet's JDEP.AS for 31.85 euros per share, or 15.7 billion euros ($18.38 billion) in total.
Denmark's Orsted ORSTED.CO has been ordered by the Trump administration to stop far-advanced construction on an offshore wind project near Rhode Island in a move that threatens to exacerbate the company's financial troubles.
(Samuel Indyk)
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($1 = 0.8540 euros)