European stocks set to open higher as traders assess the fate of Trump's tariffs

LONDON — European stocks are expected to open slightly higher on Thursday, as global markets weigh up the fate of President Donald Trump's trade tariffs.

The U.K.'s FTSE index is seen opening 0.16% higher, Germany's DAX unchanged, France's CAC 40 up 0.1% and Italy's FTSE MIB 0.15% higher, according to data from IG.

There are no major earnings reports in Europe on Thursday. Data releases will include the latest EU retail sales figures.

Traders are keeping a close eye on Trump's tariffs landscape after a federal appeals court deemed most of the tariffs illegal last week. On Wednesday night, the president asked the Supreme Court to quickly accept and rule on an appeal seeking to overturn the lower court decision.

Trump is asking the Supreme Court to hear arguments on his appeal in early November and issue a final decision on the legality of the disputed tariffs soon afterward, according to filings obtained by NBC News from the plaintiffs in the case.

Wall Street will glean more insight into the labor market Thursday. The ADP private payrolls report is expected to show a softer print. Economists polled by Dow Jones expect private employers added 75,000 jobs in August, down from 104,000 jobs previously. The latest jobless claims data is expected to show a slight uptick.

Those reports come ahead of Friday's big jobs report, which will determine the near-term outlook for a stock market that has been on edge.

Asia-Pacific markets mostly rose overnight following a tech rally overnight on Wall Street that lifted the S&P 500 and Nasdaq Composite, even as growing fears around the economy weighed on stocks.

— CNBC's Sarah Min and Erin Doherty contributed to this market report.