European stock markets are seen opening on a weak note on Wednesday as worries about inflation as well as the economic situation in China eclipse the relief triggered by dovish comments from Fed officials. Germany's inflation readings are due for release later in the day. The PCE-based inflation readings from the U.S., seen as the Fed's preferred inflation gauge is due on Thursday. The impending GDP update from U.S. and PMI readings from China also weighed on sentiment.
Wall Street had closed with minor gains on Tuesday amidst not-so-hawkish comments from Fed officials that bolstered rate cut hopes. However, anxiety ahead of the release of the PCE readings limited gains. Nasdaq Composite added 0.29 percent to close at 14,281.76 whereas the Dow Jones Industrial Average gained 0.24 percent to finish trading at 35,416.98.
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