European markets are heading for a positive open Wednesday as global markets await the latest inflation reading out of the U.S.

The U.K.'s FTSE 100 index is expected to open 4 points higher at 8,785, Germany's DAX up 75 points at 22,104, France's CAC up 12 points at 8,042 and Italy's FTSE MIB 102 points higher at 37,798, according to data from IG.

Global market focus is on the latest U.S. consumer price index report for January that will be published on Wednesday.

Headline inflation is expected to have grown 0.3% from the prior month and 2.9% from 12 months earlier, according to Dow Jones. Some economists on Wall Street have raised concerns that even as certain categories may see disinflation, Trump's tariffs could offset that. More inflation data is due on Thursday, with the producer price index set to be released.
Traders were on guard Tuesday after Federal Reserve Chair Jerome Powell told the Senate Banking Committee that policymakers were in no hurry to make more interest rate cuts. Powell will appear before the House Committee on Financial Services on Wednesday.

S&P 500 futures were near the flatline Tuesday evening as investors awaited January's consumer inflation report. Meanwhile, Asia-Pacific markets mostly rose overnight.

In Europe, earnings come from Randstad,Heineken,EssilorLuxottica,Michelin,Deutsche Boerse and Siemens Energy on Wednesday.
European markets are expected to open in higher territory Wednesday.

The U.K.'s FTSE 100 index is expected to open 4 points higher at 8,785, Germany's DAX up 75 points at 22,104, France's CAC up 12 points at 8,042 and Italy's FTSE MIB 102 points higher at 37,798, according data from IG.

Earnings come from Randstad Heineken EssilorLuxottica,Michelin,Deutsche Boerse and Siemens Energy on Wednesday.(Cay)

Source: CNBC