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Premarket: Stocks trade sideways awaiting China stimulus moves

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Investors hope to receive clarity on Saturday

Global stocks traded sideways on Friday as a stunning rally in Chinese shares paused and investors held back from placing more bets ahead of a much-anticipated update on fiscal stimulus from Beijing this weekend.

That first round of U.S. easing opened the door for China to bring in monetary support measures without creating extra pressure on the weakened renminbi. Data showed core U.S. consumer prices rose by a higher-than-expected 0.3% in September from August, signaling the U.S. central bank might have applied a larger-than-necessary dose of relief to an economy that is not ailing yet.

“However, with inflation proving stickier than expected, interest rates might face temporary upward pressure.”

 

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