(fxcue news) - European stocks are seen opening mixed on Wednesday as investors await key tech earnings and economic readings for direction. Four of the "Magnificent Seven" companies - Amazon, Apple, Meta Platforms and Microsoft - are among the companies due to report their quarterly results this week. In economic releases, trading later in the day may be impacted by reaction to a slew of U.S. economic data, including reports on private sector employment and first quarter GDP as well as the Federal Reserve's preferred readings on consumer price inflation. Friday's highly anticipated government report is expected to show the U.S. job market grew steadily in April. Asian markets were mixed as official PMI data showed a renewed loss of momentum in China's factory sector in April. Elsewhere, Japan's factory output fell more than expected in March, while Australia's core inflation slowed to a three-year low in Q1, supporting the case for an RBA rate cut in May. South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit but flagged macroeconomic uncertainties due to trade tensions and a slowdown in global growth. Regional losses, if any, remained capped as U.S. President Donald Trump signed a pair of directives easing the impact of his tariffs on the automotive industry. The U.S. dollar held steady in Asian trading but was poised for its weakest monthly performance since November 2022. Gold fell toward $3,300 per ounce while oil was set for its biggest monthly fall in three years on concerns about the outlook for fuel demand. U.S. stocks rose overnight as Commerce Secretary Howard Lutnick said the Trump administration had reached its first trade deal. He declined to name the country involved, adding their prime minister and the parliament will give their approval "shortly." Bessent also told reporters the U.S. is "very close" to a trade deal with India, has had "substantial talks" with Japan and has "the contours of a deal" with South Korea. Investors shrugged off downbeat economic reports, with the U.S. trade deficit in goods widening to a record high in March, job openings falling to the lowest since September and consumer confidence sinking to a five-year low, driven by tariffs and recession fears. The S&P 500 gained 0.6 percent to end higher for the sixth straight session and reach its best closing level in almost a month. The Dow jumped 0.8 percent and the tech-heavy Nasdaq Composite advanced 0.6 percent. European stocks closed broadly higher on Tuesday as investors parsed a flurry of earnings to assess the impact of U.S. tariffs. The pan European STOXX 600 gained 0.4 percent. The German DAX climbed 0.7 percent and the U.K.'s FTSE 100 added 0.6 percent while France's CAC 40 slid 0.2 percent.