European stock markets rise; slight gains in New York futures
Wall Street retreated from highs yesterday, the rally in chip stocks halted • US inflation climbed to 3.8%, a three-year high • And the warning from the CEO of Aramco, the world's largest oil producer,…
Assessment
European markets are rising while US futures show modest gains, but the backdrop is fragile. Wall Street pulled back from highs, the chip rally stalled, and US inflation hit a three year peak at 3.8 percent. Meanwhile, the CEO of Saudi Aramco issued a warning about energy markets. The combination of persistent inflation and a potential energy shock could pressure central banks to keep rates higher for longer, testing the current risk appetite.