European stocks are seen opening marginally lower as investors digest comments from the Federal Reserve Chairman Ben Bernanke. Bernanke pledged to keep interest rates low if unemployment remains above 6.5 percent and if inflation doesn’t exceed 2.5 percent. Bernanke’s comments calmed treasuries providing some relief after treasuries surged to a 10 month high last month on taper concern.
Asian markets remained choppy overnight as investors reacted to Bernanke’s comments and as the International Monetary Fund said risks are rising for slower growth in China.
Technology stocks are likely to remain in the spot-light today after the world’s biggest chipmaker Intel cut its full-year revenue forecast. Intel mentioned they are scaling back capital spending following weaker personal computer sales and economic weakness in China.
Investors are likely to take to the side-lines ahead of a string of corporate earnings which included Nokia, Ericsson, Morgan Stanley, Microsoft and Google.