European markets are European markets are heading for a lower open as investors gear up for more inflation data later this week, with U.S. consumer price data for December due Thursday.
Overnight in Asia-Pacific markets, stocks traded mixed after the Nasdaq Composite extended gains for a second day on Wall Street. Technology stocks helped the index skirt losses Monday as traders added to bets that inflation may be easing. U.S. stock futures were barely changed Monday evening.
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Consumers see inflation, spending sliding over next year, according to New York Fed Survey
Consumers see the inflation burden easing while they expect to pull back considerably on their spending, according to a closely watched survey the New York Federal Reserve released Monday.
The central bank district’s monthly Survey of Consumer Expectations for December showed that the one-year inflation outlook declined to 5%, down 0.2 percentage points from the previous month and the lowest level since July 2021.
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CNBC Pro: China’s reopening has gotten Wall Street excited. Here’s how the pros are playing it
Beijing’s sudden and rapid dismantling of its stringent Covid-19 controls after nearly three years has raised hopes that its battered economy could follow a similarly rapid pace of recovery.
From hotels and airlines, to “less obvious beneficiaries,” Wall Street analysts name their top Chinese and global stocks to play the reopening.
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European markets: Here are the opening calls
European markets are heading for a lower open as investors gear up for more inflation data later this week, with U.S. consumer price data for December due Thursday.
The U.K.’s FTSE 100 index is expected to open 49 points lower at 7,676, Germany’s DAX 95 points lower at 14,698, France’s CAC down 52 points at 6,855 and Italy’s FTSE MIB down 204 points at 25,181, according to data from IG.
Data releases Tuesday include Dutch inflation figures for December and U.K. British Retail Consortium retail sales figures for December. Airbus will announce its annual commercial aircraft orders and deliveries.
— Holly Ellyatt
Source : cnbc