European Shares Set To Follow Wall Street Higher

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi said they will continue talks on a broad coronavirus relief bill, raising hopes that U.S. lawmakers could finally agree on the long-stalled relief package for the world's top economy.

Meanwhile, a stronger-than-expected reading of private-sector job growth in September raised expectations that the last U.S. jobs report before the November election due out later this week will probably show the labor market's rebound continued in September.

Asian stocks rose in holiday-thinned trade, with Tokyo hit by a computer glitch linked to the delivery of market information while markets in China, South Korea, Taiwan and Hong Kong are closed for holidays.

Weakness in the dollar index helped push gold prices higher, while oil held steady as coronavirus infections continued to climb in New York.

In economic releases, Eurozone September final PMI readings and the euro zone unemployment rate for August will be released later in the day.

Across the Atlantic, trading may be impacted by reaction to another batch of economic data, including reports on weekly jobless claims, personal income and spending, manufacturing activity and construction spending.

U.S. stocks rose overnight as renewed hopes for a stimulus bill and encouraging private payrolls data helped investors shrug off concerns over a disorderly presidential debate.

Markets pared some early gains after Senate Majority Leader Mitch McConnell tore into the $2.2 trillion Democratic stimulus plan, calling it "outlandish" and "too high".

The Dow Jones Industrial Average climbed 1.2 percent, the tech-heavy Nasdaq Composite gained 0.7 percent and the S&P 500 added 0.8 percent.

European markets ended lower on Wednesday as investors reacted to the U.S. presidential debate and Germany's warning that delays to the European Union's recovery fund are almost inevitable due to governance disputes.

The pan European Stoxx 600 edged down 0.1 percent. The German DAX and the U.K.'s FTSE 100 both fell around half a percent, while France's CAC 40 index shed 0.6 percent.