European stocks are seen opening on a mixed note Tuesday as several markets resume trading after the Whit Monday public holiday.

Asian markets followed Wall Street higher after several Federal Reserve officials insisted that inflation in the U.S. will be transitory and that it wasn’t time to rethink monetary policy in the midst of the coronavirus pandemic.

Gold edged lower in Asian trade, but held near its highest level in more than four months on the back of a weaker dollar.

Bitcoin held gains as Elon Musk signaled support for an apparent effort to improve its green credentials.

Oil prices rose for a third day to hold around one-week highs after climbing over 3 percent overnight.

In economic releases, investors eye the release of the IFO institute’s closely-followed German business confidence index for further insight into the pandemic recovery.

Also, European Central Bank chief economist, Philip Lane, is due to speak at the Peterson Institute for International Economics’s Strategy Review later in the day.

Across the Atlantic, trading later in the day may be impacted by reaction to reports on home prices, new home sales and consumer confidence.

CEOs of the largest U.S. banks, including JPMorgan and Goldman Sachs, will testify before lawmakers in the Senate Banking and House Financial Services committees Wednesday.

U.S. stocks climbed overnight, as a pullback in U.S. Treasury yields and the Biden administration’s decision to pare down its infrastructure plan helped ease inflation concerns for the time being.

The Dow rose half a percent, the S&P 500 gained 1 percent and the tech-heavy Nasdaq Composite rallied 1.4 percent.

European stocks held close to record highs on Monday, with technology stocks leading the charge on continued optimism about global economic recovery.

The pan European Stoxx 600 inched up 0.1 percent, with several markets in the region closed for holidays. France’s CAC 40 index edged up 0.4 percent and the U.K.’s FTSE 100 added half a percent.

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