European shares were at record highs on Friday after reports said U.S. President Joe Biden will seek $6trillion in federal spending plans for 2022. Biden is expected to unveil his first full budget later in the day.
Investors also wait for an update on the personal-consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, amid concerns that a higher-than-expected figure could force the U.S. Federal Reserve to tighten its monetary policy.
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