European stock markets retreated at the opening on Tuesday, focused on upcoming monetary policy developments in the United States.

In Paris, the CAC 40 was down 0.56% at 7,584.5 points around 07:10 GMT. In Frankfurt, the Dax lost 0.43%, while London's FTSE was down 0.05%.

The pan-European FTSEurofirst 300 index lost 0.05%, the EuroStoxx 50 fell by 0.57% and the Stoxx 600

by 0.37%.

Futures on New York indices suggest that Wall Street will open higher, with the Dow Jones up 0.07%, compared with 0.16% for the Standard & Poor's 500 and 0.28% for the Nasdaq.

Federal Reserve Chairman Jerome Powell will address the House Banking Committee at 13:15 GMT.

He will comment on the central bank's monetary policy, while the latest indicators suggest that the US economy is slowing down, encouraging markets to bet on a first rate cut in September.

However, the context of the presidential election will complicate Jerome Powell's task, as both Democrats and Republicans criticize his monetary policy.

Markets are also cautious ahead of Thursday's release of inflation figures for June, and the start of the earnings season.

On the value side, Verallia fell 10.7% after announcing on Monday that it had lowered its adjusted Ebitda forecast for 2024 to around 866 million euros, compared with the previous figure of around 1 billion euros.

On Tuesday, Carmat announced half-year sales of 3.2 million euros, up 6.5%. (Written by Corentin Chappron, edited by Blandine Hénault)