(fxcue news) - European stocks may open on a mixed note Thursday, with technology stocks likely to suffer losses as Nvidia's quarterly forecast failed to impress investors. The AI chip champion predicted sales and margins broadly in line with Wall Street estimates but disappointed some bullish investors who had hoped for something more dramatic. Asian markets fell in cautious trade as UBS Group downgraded its forecast for China's growth for this year and the next, saying weaker property activity will have bigger drag on the economy than previously assumed. Gold ticked higher on a weaker dollar after U.S. Federal Reserve Bank of Atlanta President Raphael Bostic said that it may be "time to move" on rate cuts. Oil rebounded from two days of losses as supply concerns over Libya returned to focus, helping counter data showing a smaller-than-expected draw in U.S. crude inventories. Treasury 10-year yields held steady ahead of a report on weekly U.S. jobless claims due later in the day and Friday's PCE inflation report. Economists currently expect the annual rate of consumer price growth to inch up to 2.6 percent in July from 2.5 percent in June. The annual rate of core consumer price is expected to tick up to 2.7 percent in July from 2.6 percent in June. The release of the U.S. Core PCE Price Index along with the Euro Area inflation on Friday could impact expectations for how quickly the central banks cut rates. Meanwhile, the release of flash inflation data from Germany and Eurozone economic sentiment survey results may influence trading later in the day. U.S. stocks ended lower overnight before Nvidia's earnings release and Friday's PCE data. The Dow dipped 0.4 percent, the S&P 500 shed 0.6 percent and the tech-heavy Nasdaq Composite lost 1.1 percent. European stocks rose for a second straight session on Wednesday, with the pan-European STOXX 600 adding 0.3 percent to reach its highest level since mid-July. The German DAX rose half a percent and France's CAC 40 edged up by 0.2 percent while the U.K.'s FTSE 100 finished marginally lower.