European equity markets were set for a strong open on Monday after New York Fed President John Williams said a near term rate cut remains possible, reviving expectations for a December move. Sentiment also improved following reports that US officials are considering allowing Nvidia to sell its H200 AI chips to China. In Europe, investors focused on the UK’s upcoming budget, with Finance Minister Rachel Reeves signaling fiscal discipline and reiterating pre-election commitments not to raise taxes on working people. Germany’s Ifo business sentiment survey will also be watched later today. In premarket trade, Euro Stoxx 50 futures rose 0.8% and Stoxx 600 futures advanced 0.7%.