FX.co ★ European Markets Set to Open Flat

European equity markets appeared poised to open with slight declines or maintain a flat position on Wednesday, reflecting a reduction in gains made during the previous session. Investor sentiment continues to exhibit caution amidst ongoing geopolitical tensions and uncertainties surrounding the US economic and fiscal landscape. As President Trump's comprehensive tax and spending proposal approaches a House vote, economists have raised concerns, predicting it could increase the national debt by over $2.5 trillion, thereby pushing the current $36.8 trillion debt further upwards within the next ten years. Additionally, there are reports suggesting that Israel might consider military action against Iranian nuclear facilities contingent upon the results of US-Iran negotiations. Concurrently, the EU and UK have instituted new sanctions against Russia. Investors are also directing attention towards upcoming corporate earnings, with M&S, SSE, Currys, and JD Sports set to release their reports. Furthermore, UK inflation data for April will be scrutinized by traders. As of premarket trading, futures for the Euro Stoxx 50 and Stoxx 600 indices showed minimal movement.