BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may drift lower at open
on Friday as traders pushed back the timing of first rate cut by the U.S.
Federal Reserve to December.

Atlanta Fed President Raphael Bostic said on Thursday that there is still
considerable upward pressure on prices and the U.S. central bank may need to
wait longer to cut interest rates.

Asian markets traded sharply lower as rate jitters coupled with growing tensions
between China and Taiwan sapped investors' appetite for risk.

The dollar was set for a weekly gain as rate cut bets ebbed. Gold rose in Asian
trading but was on track for its first weekly dip in three.

Oil prices held steady after four straight sessions of losses on demand
concerns.

In economic news, trading later in the day may be impacted by reaction to
reports on final German GDP, British retail sales and French business sentiment.

Across the Atlantic, durable goods orders data and a revised reading on consumer
sentiment may garner investor attention.

Meanwhile, speeches from ECB and Federal Reserve policymakers - notably Fed
Governor Christopher Waller - may offer additional clues on the rate outlook.

Overnight, U.S. stocks gave up early gains to end lower as interest-rate
concerns overshadowed Nvidia's bumper revenue forecast.

Treasury yields climbed after data showed U.S. business activity grew at its
fastest pace in more than two years in May.

Also, weekly jobless claims fell by more than anticipated last week, reinforcing
resilience of the labor market.

The tech-heavy Nasdaq Composite fell 0.4 percent, the S&P 500 gave up 0.7
percent and the narrower Dow lost 1.5 percent.

European stocks ended mostly higher on Thursday, with Nvidia earnings and
regional PMI data in focus.

The pan European STOXX 600 finished marginally higher. The German DAX ended flat
with a positive bias and France's CAC 40 inched up 0.1 percent while the U.K.'s
FTSE 100 shed 0.4 percent.



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