Stocks, oil struggle to pull out of four-day slide

“Everyone is just waiting to see what comes out in terms of the economic numbers and the central bank meetings next week,” said Close Brothers Asset Management’s Chief Investment Officer Robert Alster.

Comments from ECB officials this week saying euro zone inflation is probably near its peak has bolstered hopes that it will slow its hikes to 50 bps from 75 bps previously at its Dec. 15 meeting. Both the Fed and BoE are expected to do the same at their respective meetings. “We are still at a very high level of inflation in the euro zone,” said Camille de Courcel, head of European rates strategy at BNP Paribas Markets.De Courcel expects a 50-bps rate hike from the ECB next week, but there “is still a risk that they deliver a 75”.

U.S. monthly consumer inflation is also due next week, a day before the Fed’s policy meeting on Dec. 14, and could be pivotal in setting longer-term expectations for monetary policy. Macau’s casino operators hit the jackpot surging 9 percent and taking their gain this quarter to more than 40 percent. Among the main commodities, oil found its footing after a four-day drop that had taken it into the red for the year.

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