Wall Street indexes attempted to rebound for the second consecutive day after the annualized producer price inflation eased for the second month in a row. European markets jumped after the ECB delivered the widely anticipated rate cut. Sentiment rebounded among large Japanese manufacturing companies in the third quarter. India's consumer price inflation held nearly steady.
The latest U.S. consumer price inflation update confirmed the ongoing trend of rising housing costs and well-entrenched service inflation, signaling a tough road ahead for policymakers. The European Central Bank is expected to lower its reference rate on Thursday. China and Japan indexes are likely to test this year's lows in the coming weeks.
U.S. job openings shrank in July, sending a second signal in as many days of a possible economic slowdown. The U.S. trade deficit expanded in July after imports rose faster than exports. The economic data in Europe also confirmed weakening economic activities, and VW raised the prospect of closing plants in negotiations with the workers union.