European markets open to close: Stoxx, FTSE, Dax, Cac

European stocks were lower in early trade, with the Stoxx 600 index down 0.6% at 8:05 am London time.

All sectors were in the red as mining stocks led decliners, falling 1.2% after China’s services activity missed expectations in a sign of a slower economic recovery.

Germany’s DAX and France’s CAC 40 were both 0.6% lower, while the UK’s FTSE 100 was down 0.4%.

Future business sentiment among German carmakers fell sharply in June, according to a survey by the ifo Institute.

While the score assessing their current situation increased to 37.5 points from 28.4 points, expectations decreased to minus 56.9 points from minus 10.3 points.

The fifth consecutive decline brought expectations to their lowest level since the 2008 global financial crisis.

Auto suppliers say their current situation as well as future expectations are worse as they struggle with lack of demand from abroad.

— Jenny Reid

European stocks are headed for a fall at the open Tuesday. The UK’s FTSE 100 is set to open 5 points lower at 7,512, according to data from ig.com. Germany’s DAX is on course to drop 22 points to 16,012, with France’s CAC down 15 points to 7,349 and 48 points to 28,416.

— Jenny Reid

The music industry is set for a radical shift due in part to generative AI, according to Goldman Sachs, which describes the new technology as providing “significant opportunities” for the sector.

It named five buy-rated stocks to play the trend. All stocks are on his conviction list of top stocks.

Pro subscribers can read more here.

— Lucy Handley

Activity in China’s service sector remained in positive territory for the sixth consecutive month, according to a Caixin/S&P Global survey released on Wednesday.

The Caixin services purchasing managers index for June came in at 53.9, a slower rate of expansion than the 57.1 recorded in May.

The survey said that “business activity and new orders both expanded at slower rates than seen in May, as some companies reported slower-than-expected market demand .”

— Lim Hui Jie

Goldman Sachs is positive on several Asian markets today, despite what it expects to be a “subdued” third quarter of the year.

The bank checks for global stocks with increasing earnings growth momentum, stable earnings per share revisions and reasonable valuations.

The list includes Alibaba and others.

CNBC Pro subscribers can read more here.

— Weizhen Tan

The US economy has moved from a “rolling recession” to a “rolling recovery,” according to market veteran Ed Yardeni.

Speaking on CNBC’s “Squawk Box Asia,” the president of Yardeni Research said he has upgraded his US GDP forecasts for this year and next as a unique factor is the softening effect of interest rate hikes in the US economy.

CNBC Pro subscribers can read more here.

— Ganesh Rao