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European Shares Set To Tick Higher At Open

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European stocks may open a tad higher on Friday after Federal Reserve Chairman Jerome Powell predicted no recession in 2019 and said the U.S. central bank will be patient in determining when to hike interest rates.

Fed Vice Chairman Richard Clarida also said the Fed could afford to take a wait-and-see stance on interest rates if headwinds to the economy from financial markets or global growth prove persistent.

Asian stocks remain broadly higher amid optimism for a dovish Fed and positive U.S.-China trade talks. Oil held above $52 a barrel despite easing slightly in Asian trade after nine straight sessions of gains. The dollar softened on reduced chances of further rate hikes.

Overnight, U.S. stocks recovered from early losses to finish higher for the fifth consecutive session despite disappointing holiday sales from Macy's, revenue guidance cut from American Airlines and concerns that longer government shutdown will hit the economy.

The Dow Jones Industrial Average and the S&P 500 rose around half a percent while the tech-heavy Nasdaq Composite gained 0.4 percent.

European markets ended Thursday's session on a mixed note as assessments of trade talks between the U.S. and China showed no significant breakthroughs.

The pan-European Stoxx Europe 600 index edged up by 0.3 percent. The German DAX rose 0.3 percent and the U.K.'s FTSE 100 inched up half a percent while France's CAC 40 index dipped 0.2 percent.

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