European markets opened higher on Wednesday, with most sectors starting the day in the green. The pan-European Stoxx 600 was up 0.35% at 8:14 a.m. London time. Banks led gains and were last up by 0.84%, while autos stocks dropped 0.78%. The U.K.’s FTSE 100 was last up 0.56%, while France’s CAC 40 rose 0.35% and Germany’s DAX was 0.39% higher.

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DoubleLine Capital CEO Jeffrey Gundlach believes the Federal Reserve’s so-called dot plot will show a projection of only two rate cuts for this year, he said in an investor webcast Tuesday after the bell. That would be down from the previous forecast of three interest rate cuts indicated for 2024. The dot plot indicates how 19 FOMC members, both voters and nonvoters, expect where rates would be through the end of the year and out to 2026 and beyond.

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Check out the companies making headlines in after-hours trading: Oracle — The tech company’s shares jumped nearly 9% after it announced cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results…

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Stock futures were slightly lower shortly after 6 p.m. ET. S&P 500 and Nasdaq 100 futures traded lower by 0.05% and 0.09%, respectively. Dow futures slipped just below the flatline, meanwhile.

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