- As traders were ready for Thursday's consumer price data from the US, which may indicate further weakening and support the case for less-aggressive interest-rate hikes, wall street equity futures inched up and European markets rose.
- Both the S&P 500 and NASDAQ 100 contracts increased by roughly 0.2%. In US premarket trade, bath & beyond inc. shares rose along with other meme stocks, putting the struggling home goods retailer on track for a third day of gains. The optimism in the Stoxx Europe 600 index helped miners outperform. The reopening of China's economy will increase demand for metals.
- Treasury rates reduced their gains from the prior session, with the 10-year bond's rate falling to slightly below 3.6% as investors remained preoccupied with the US economy's price forecast. A measure of the dollar's strength was just above a seven-month low.
- Prior to the release of the December inflation figures, Federal Reserve Chair Jerome Powell held off on making any comments about the outlook for monetary policy. Even though some officials argue that it's too soon to declare victory over inflation, signs of cooling could support a shift toward slower rate increases.
