- US market futures hinted to a slightly softer opening for Wall Street after two weeks of strong gains, as investors awaited inflation data that could indicate whether the Federal Reserve is finished raising interest rates.
- After the underlying indexes closed considerably higher on Friday, contracts for the S&P 500 and the Nasdaq 100 fell about 0.3%. Boeing shares rose about 4%, boosted by a $52 billion contract with Emirates and news that China is considering lifting a hold on Boeing aircraft orders.
- The STOXX 600 index in Europe rose 0.7%, led by a surge in healthcare firms.
- Market focus is squarely on Tuesday's US consumer price statistics, which are likely to show inflation easing to 3.3% year on year in October, down from 3.7% the previous month. Ten-year Treasury rates fell two basis points to 4.63%, bringing the month's total to around 30 basis points.
- While money markets continue to bet on the Fed cutting rates from next year, analysts disagree on how soon and how quickly policy easing will occur. Morgan Stanley predicts steep interest-rate reduction over the next two years, beginning in June, while Goldman Sachs predicts the first cut towards the end of 2024.
