European and U.S. stocks rose higher during Thursday’s morning session as investors awaited U.S. inflation data due to be released later in the day. The Stoxx Europe 600 index gained 0.4%, putting the index on course to achieve its best month of trading since January. Across the pond, S&P 500 futures and Nasdaq 100 futures each rose 0.2%, while contracts listed on the Dow Jones Industrial Average gained 0.5%.
Later in the day, the personal consumption expenditures price index is expected to be released. Known to be the Federal Reserve’s preferred inflation gauge, this index is expected to have decelerated in October to its slowest annual pace since early 2021. Still, some analysts do not expect the Fed to cut its interest rates yet.
“Upcoming Fed communication could continue to stress the need to hold rates steady for some time,” Hauke Siemssen, rates strategist at Commerzbank AG explained. Treasuries and mortgage debts continue to cool amid easing U.S. inflation.