(Bloomberg) — US equity futures kept to tight ranges before an American consumer price report that could determine whether the Federal Reserve will start cutting interest rates next month.
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Europe’s Stoxx 600 Index was 0.4% higher, supported by UBS Group AG, which rose after the bank’s second-quarter profit beat estimates. Miners dropped as iron ore slumped to the lowest since May 2023 amid worries over demand in China. US equity contracts were steady following Tuesday’s rally on Wall Street, fueled by cooler-than-forecast US producer price data.
The easing of price pressures in the US has bolstered confidence that officials can start lowering borrowing costs and refocus on supporting the labor market. Forecasters expect a modest 0.2% increase in both the consumer price index and the core gauge excluding food and energy — which would mark the smallest…
