FX.co ★ European Stocks Head for Lower Open

European equity markets were set to open lower on Friday, as disappointing corporate earnings sparked another global selloff in technology and artificial intelligence stocks, driving investors toward safe-haven assets. In after-hours trading, Amazon shares slumped about 7% after the company announced a sharp rise in capital expenditures, while Intel plunged 23% on the back of a weaker-than-expected quarterly outlook and indications of cooling demand in the PC market.

On the macroeconomic front, attention will center on preliminary GDP and inflation data from the Eurozone, Germany, France, Italy and Spain, as well as labor market reports from Germany and France. Meanwhile, the corporate earnings calendar features updates from major names including AstraZeneca, Intesa Sanpaolo, BP, Sanofi and NatWest, among others. In premarket action, Euro Stoxx 50 futures were down 0.4%, while Stoxx 600 futures slipped 0.2%.