U.S. stocks edge higher before key U.S. inflation reading - BNN Bloomberg

Gains in European telecommunications and travel and leisure shares helped push the Stoxx 600 index 0.4 per cent higher. Vodafone Group Plc shares rose after Liberty Global Plc said it had acquired a 4.9 per cent stake in the rival British telecom group. TUI AG climbed after the world’s biggest tour operator said summer bookings are running ahead of pre-pandemic levels.

U.S. inflation probably accelerated in January to 0.5 per cent from December’s 0.1 per cent, while slowing year-on-year to 6.2 per cent from 6.5 per cent, according to estimates compiled by Bloomberg. The yen rose against most Group-of-10 currencies following the formal nomination of Kazuo Ueda as the next Bank of Japan governor. Traders have recently increased bets that the BOJ’s yield-curve control and negative-rate policies may be abolished soon under Ueda’s leadership.

Meanwhile, Bank of America Corp.’s latest global fund manager survey suggests that while equity markets are on a relentless march higher amid optimism around stronger economic growth and cooling inflation, most investors aren’t convinced the gains will last.

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