European markets were lower on Thursday morning as investors awaited the latest U.S. inflation data for more signs of easing price pressures.
Pan-European Stoke 600 The index was down 0.24% as of 10:25 a.m. London time, with most sectors and major exchanges in the red.
Insurance stocks rose 0.57% as Hurricane Milton’s devastating blow to Florida pointed to a stronger outlook for the industry. On the other hand, travel and leisure stocks fell 1.09%.
In the United States, economists surveyed by Dow Jones expected inflation to rise 0.1% month-on-month and 2.3% over the previous 12 months.
The results will also inform the next steps for policy action by the Federal Reserve at its November meeting. There is about a 70% chance of a quarter rate cut, according to federal funds futures trading data CME Group’s FedWatch tool.
U.S. stock futures were little changed late Wednesday, while Asia-Pacific stocks ended mostly higher on Thursday, driven by gains on Wall Street on Wednesday.
The S&P 500 and Dow Jones Industrial Average hit new highs as investors shrugged off geopolitical concerns and reacted to the release of minutes from the Federal Reserve’s September meeting, in which it cut key interest rates by 50 basis points and revealed “absolutely no…” Most Fed participants favor a sharp reduction in interest rates.
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