LONDON – European equities advanced on Monday, with investors still weighing on the European Central Bank’s latest policy decisions and inflation data.
This coming week, global investors will be watching the August U.S. consumer price index, which will be released on Tuesday; Economists surveyed by FactSet expect the reading to show that consumer prices rose 5.3% from the annual rate in August. Retail sales data will be released over the weekend.
U.S. stock index futures were modestly higher during early market trading on Monday as the S&P 500 comes out of its longest daily loss streak since February. Fears about the slowdown in economic growth and rising inflation have weighed on the market.
The top three averages ended lower on Friday, with Dow and S&P recording a fifth consecutive day of losses, while the Nasdaq Composite recorded its third consecutive negative session.
In the Asia-Pacific markets overnight, stocks fell sharply in Monday’s trading, with stocks in Hong Kong causing losses. Hong Kong-listed Alibaba shares fell 4.47% following a Financial Times report that Beijing wants to break Ant Group’s Alipay and force the creation of a separate loan application.
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– CNBC’s Pippa Stevens and Eustance Huang contributed to this market report.