Wall Street indexes rebounded but struggled to hold their best levels of the session amid weakening confidence and growing worries about the resurgent inflation. European market indexes closed down more than 1%. Central banks of Sweden and the Philippines cut rates, but Norway, Japan, and the UK held rates steady.
Wall Street indexes traded higher, and investors are anticipating fewer rate cuts in the approaching year amid resurgent inflation and higher tariffs. European markets were flat ahead of the BoE's rate decision and ongoing political turmoil in France and Germany. Japan's trade deficit shrank in November.
Eight central banks around the world are scheduled to announce their rate decisions this week. The U.S. Federal Reserve, the Bank of England, and Riksbank are expected to raise their policy rates, but the Bank of Japan may delay its rate increase till the next policy meeting in January.
AVGO SMCI PLTR ILMN
AVGO SMCI PLTR ILMN
Wall Street indexes struggled to rise above the flatline after producer price inflation accelerated in November. Investors in Europe held out for additional rate cuts after the ECB lowered rates as widely anticipated. China's leaders offered another vague commitment for additional fiscal stimulus measures.