European stocks are seen opening on a mixed note Tuesday despite gains on Wall Street overnight.

Asian markets are trading mixed, with markets in China and Japan closed for holidays. Oil prices slipped after climbing more than 1 percent overnight.

Gold slipped from a two-month high due to an uptick in the dollar after Federal Reserve Chairman Jerome Powell said the economic outlook has “clearly brightened” in the United States, but the recovery remains too uneven.

New York Fed President John Williams noted that current conditions are “not nearly enough” for a shift in the monetary policy stance.

Mortgage approvals and final factory Purchasing Managers’ survey data from the U.K. are due later in the session, headlining a light day for the European economic news.

Across the Atlantic, reports on the U.S. trade deficit and factory orders may attract attention.

U.S. stocks ended mixed overnight as Treasuries rose and data showed growth at manufacturers cooled in April.

The Dow climbed 0.7 percent and the S&P 500 rose 0.3 percent, while the tech-heavy Nasdaq Composite shed half a percent.

European markets ended Monday’s session higher after data showed a surge in Germany’s retail sales and an expansion in euro zone factory activity.

The pan European Stoxx 600 rose 0.6 percent. The German DAX gained 0.7 percent and France’s CAC 40 index added 0.6 percent while the U.K. markets were closed for a holiday.

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