European Stocks Tick Higher as Markets Wind Down for the Holidays

This is CNBC's live blog covering European markets. European markets opened marginally higher Friday after ending in the red during the previous session. The pan-European Stoxx 600 ticked up 0.1% in early trade. Trading is expected to be light on the last working day before the Christmas break. The U.K.'s London Stock Exchange is on a half day. The U.S.' Dow Jones slid 1.05%, the S&P 500 fell 1.45% and the Nasdaq Composite closed down 2.18%. In Asia-Pacific, shares were lower after Japan's core inflation came in at its highest level in over 40 years. European markets: Here are the opening calls European markets are heading for a higher open Friday, after closing in the red the previous session. There are no major earnings or data releases expected. -- Katrina Bishop TSMC in talks to build first chip plant in Europe: Financial Times Taiwan Semiconductor Manufacturing Co. The company will reportedly send senior executives to Germany to discuss government support levels and local supply chain. The plant will aim to focus on 22nm and 29nm chip technologies, the report said. -- Jihye Lee CNBC Pro: Tech fund manager backs these 2 software stocks will outperform in a recession Automation and cost-cutting at many businesses during a recession will drive up profits at two Silicon Valley companies, according to tech fund manager Jeremy Gleeson. Gleeson, who manages a $1.5 billion tech fund at AXA, believes if there is a recession next year, then "companies are going to need to do more with less." "One of the ways they could do that is by utilizing technology better to enhance the productivity of their existing workforce," he said and named the two stocks that will benefit from the trend. -- Ganesh Rao The Federal Reserve's favorite inflation gauge is due Friday The Bureau of Economic Analysis will issue November's personal consumption expenditure report - the Federal Reserve's preferred inflation measure - on Friday morning. The core personal consumption expenditures price index, which excludes food and energy prices, is expected to have gained 0.2% in November - the same increase seen in October, according to economists polled by Dow Jones. The BEA will also release personal income data. Economists are calling for a 0.3% increase in November, which would be a step down from October's gain of 0.7%. Policymakers issued their seventh rate increase on Dec. 14, a hike of 50 basis points. Futures tied to the Dow Jones Industrial Average dipped 12 points, or 0.04%, while S&P 500 and Nasdaq 100 futures traded flat. -- Samantha Subin CNBC Pro: Buying Peloton and similar growth stocks is 'absolute nonsense,' says strategist High-growth tech stocks are unlikely to rebound after a "pivot" on interest rates from the Federal Reserve, according to one market strategist. -- Ganesh Rao