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Investors will be assessing price data to gage the pace of interest rate cuts this year. The euphoria seen in late 2023 about March rate cuts has slightly faded, but signs that inflation continued to cool in December could revive hopes.
Investors are also looking forward to the start of earnings season, with several US banks due to release their results on Friday: with earnings from Bank of America, Wells Fargo, Citigroup and JPMorgan. They will also assess comments from Bank of England Governor Andrew Bailey at 1515 GMT today.
Among stocks, Sainsbury's tumbled 4.9% after it reiterated its profit guidance for the full year, despite higher sales in the latest quarter.
Meanwhile, Persimmon gained 3% after the British housebuilder said that its outlook for 2024 remains positive despite a challenging 2023.
Things to read today:
- In defense of billionaires (Project Syndicate).
- What we go through at MarketScreener when we have to create infographics for certain indices (FT Alphaville, hilarious).
- SEC investigates Rumble (Wired).
- Britain’s Post Office Scandal and the Scourge of Bad Management (Bloomberg)
