European Shares Seen Mostly Lower In Cautious Trade

(RTTNews) - European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.

John Williams, Thomas Barkin, Stephen Miran, Raphael Bostic and Michelle Bowman are due to speak at separate events this week.

Fed Chair Jerome Powell is scheduled to speak on the economic outlook on Tuesday.

Additionally, closely-watched readings on U.S. consumer price inflation will be in the spotlight this week along with reports on new and existing home sales and durable goods orders.

The release of Fed's preferred gauge of inflation on Friday might help set the tone for the near-term rate outlook.

U.S. stock futures edged lower after President Donald Trump issued a sweeping order imposing a fee of $100000 on H-1B visas, sparking concern among tech workers and IT service companies.

China has announced the introduction of a new "K visa" category aimed at attracting young and talented professionals, particularly in the fields of Science, Technology, Engineering and Mathematics (STEM) from all over the world.

In another development, the People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown.

Asian markets were mixed and the dollar gained while gold edged up toward $3,700 per ounce. Oil prices climbed nearly 1 percent on prospects of fresh EU sanctions against Russia.

U.S. stocks rose on Friday, with the major averages all reaching new record closing highs, amid expectations of additional rate cuts this year and following reports of a cordial tone of U.S.-China negotiations.

President Trump described a call with his Chinese part Xi Jinping that included discussion on selling blockbuster app TikTok as 'very productive' although no final decision was reached.

The tech-heavy Nasdaq Composite climbed 0.7 percent, the S&P 500 added half a percent and the Dow gained 0.4 percent.

European stocks ended slightly lower on Friday, with trade issues and economic concerns in the spotlight.

The pan European STOXX 600 eased 0.2 percent. The German DAX dipped 0.2 percent, the U.K.'s FTSE 100 slid 0.1 percent and France's CAC 40 ended flat with a negative bias.