FX.co ★ European Shares Set To Open Little Changed

European stocks are anticipated to open with minimal change on Tuesday, given the lack of guidance from Wall Street.

U.S. index futures suggest a negative opening, ahead of crucial private sector PMI and labor market data expected this week.

The ISM Manufacturing and Services PMI figures, due later today and on Thursday respectively, may provide investors with further insight into the health of the world's largest economy.

The upcoming U.S. jobs report on Friday is of great significance. If the labor market shows signs of cooling, it could revive recession fears and lead to speculation of a 50-basis point rate cut in mid-September.

Asian markets broadly declined, relinquishing early gains due to concerns over China's economy and a significant escalation in geopolitical tensions. Two crude oil tankers, the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I, were attacked in the Red Sea by Yemen's Iran-backed Houthi rebels.

Meanwhile, intense diplomatic activities involving the United States, Egypt, and Qatar are underway to secure a ceasefire in Gaza.

Treasuries remained relatively unchanged in Asian trading, and the yen stabilized after a four-day decline. Oil and gold experienced modest losses.

U.S. markets were closed on Monday in observance of Labor Day.

European stocks exhibited mixed results on Monday as data continued to show contraction in eurozone manufacturing activity for August. The pan-European STOXX 600 ended flat with a slight negative bias.

The German DAX edged up by 0.1 percent, reaching a new record close, despite uncertainty introduced by populist wins in state elections.

France's CAC 40 saw a 0.2 percent rise, while the U.K.'s FTSE 100 declined by 0.2 percent.