Premarket: European stocks rise as traders wait for U.S. inflation data

European shares rose in early trade on Wednesday after data pointing to softer inflation helped markets recover from last week’s meltdown, while traders hoped that U.S. inflation data later in the session would also be benign.

UBS shares were up around 2.9% after it reported $1.1 billion of net profit in the April to June period, beating analyst’s forecasts. U.S. CPI data is due at 1230 GMT and traders hope it supports the idea of Fed rate cuts. Markets are pricing in a roughly 52.5% chance of a 50 basis point rate cut, and a 47.5% chance of a 25 basis point cut, at the Fed’s next meeting in September.

The 10-year U.S. Treasury yield was steady at 3.8522%, with yields having fallen after Tuesday’s U.S. producer price data .

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: European shares lower on earnings, bonds boosted after FedInvestors prepare for Bank of England rate verdict
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: European stocks slip, global IT outage causes chaosUncertainty across major economies added to headwinds for investors
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Commodities fall, stocks steady ahead of Fed, BOJ rate decisionsThe S&P 500 has steadied after a two-week downturn and futures were flat
Source: globeandmail - 🏆 5. / 92 Read more »