European markets were slightly lower Thursday morning as investors await the latest U.S. inflation data for more signs that price pressures are easing.
The pan-European Stoxx 600 was down 0.08% by 11:05 a.m. London time, with most sectors and major bourses shifting into the red.
Insurance stocks added 0.72%, as Hurricane Milton’s devastating hit to Florida pointed to stronger prospects for the sector. On the other end, mining stocks fell 0.8%.
In the U.S., economists polled by Dow Jones anticipate a 0.1% increase in inflation on a monthly basis, and a 2.3% advance over the prior 12 months.
The result will also inform the Federal Reserve’s next steps on policy at its November meeting. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group’s FedWatch tool.
U.S. stock futures were little changed Wednesday night, while Asia-Pacific markets closely mostly higher on Thursday, buoyed by gains on Wall Street on Wednesday.
The S&P 500 and Dow Jones Industrial Average reached new records as investors shook off geopolitical concerns and reacted to the release of minutes from the Fed’s September meeting, at which it cut its key rate by 50 basis points, and revealed that a “substantial majority of participants” had favored reducing interest rates by the larger amount.
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