ARTICLE AD BOX
European markets were heading for a mixed open on Thursday as traders assessed the global inflation outlook and the possible trajectory of central bank rate cuts.
The U.K.'s FTSE 100 index is expected to open 24 points higher at 8,041, Germany's DAX 1 point higher at 18,975, France's CAC up 12 points at 7,223 and Italy's FTSE MIB down 19 points at 33,404, according to IG data.
It's another busy day of earnings with Siemens, Bilfinger, Merck, Fincantieri, Geox, Generali, Veon, Swiss Re, Burberry, Metro Bank, Aviva and Deutsche Telekom among those reporting during the session. European employment figures will also be published on the data front.
Investors are assessing the likelihood of another interest rate cut by the U.S. Federal Reserve in December after the latest U.S. inflation data. The October consumer price index came in as expected on Wednesday, but signaled that the Federal Reserve's fight against inflation is yet to be won.
Core CPI, which excludes volatile food and energy prices, rose by 0.3% for a third straight month, with the 12-month rate at 3.3%.
Investors are also deliberating whether a post-election rally following Donald Trump's decisive victory last week still has legs after propelling U.S. major averages to new highs. U.S. stock futures were little changed Wednesday night, and Asia-Pacific markets traded in mixed territory.
CNBC Pro: Wealth manager sends 'bond vigilante' warning — and reveals his stock picks
As investors mull over how to play the market following the U.S. election result, Sanders Morris' George Bull reveals what he is looking out for right now.
"The postelection rally was frenetic and may have been too much too soon. But, it did show that investors have confidence that the business community and earnings will be strong under a [Donald] Trump administration," the chairman at the U.S.-headquartered wealth management firm said.
However, he warned that there was "schizophrenia" in the bond market, which could "fuel indecision and some correction" in the stock markets. Stocks are often rattled when Treasury yields surge, particularly growth stocks as higher yields can hurt their expected future earnings.
Against this backdrop, the wealth manager revealed where - and how - he is playing the market.
— Amala Balakrishner
Trump tariffs would warrant increased stimulus from Beijing, UBS economist says
Beijing will need to roll out more stimulus measures if President-elect Donald Trump levies more tariffs on China, said Paul Donovan, chief economist at UBS Global Wealth Management.
Speaking on CNBC's "Squawk Box Asia," Donovan said that the stimulus measures China has enacted in recent months have been very supportive for the property market but have not translated into consumer demand.
"I hope we will see, in the event of an escalation of the trade conflict, more targeted measures in China aimed specifically at boosting domestic consumer spending, which means raising domestic confidence," he added.
— Dylan Butts
Bitcoin tops $90,000
Bitcoin extended its postelection rally Wednesday, breaking above $90,000. The flagship cryptocurrency was last up 1% at $90,796.
Bitcoin year to date
— Fred Imbert
CNBC Pro: This 145-year-old British engineering firm is set to benefit from an onshoring and automation trend — with analysts giving the stock 60% upside
A 145-year-old British industrial company is positioned to capitalize on major trends, including the reshoring of manufacturing and increased defense spending, according to analysts at Shore Capital.
U.S. President-elect Donald Trump has threatened to apply 10% import duties on products brought into the U.S., with imports from China potentially facing additional duties of up to 60%.
However, this U.K.-listed company runs two factories each in the United States, United Kingdom, and Australia and could potentially avoid Trump's trade tariffs.
CNBC Pro subscribers can read more about the stock here.
— Ganesh Rao
Wed, Nov 13 202412:00 AM EST
European markets: Here are the opening calls
European markets are expected to open positive territory Wednesday.
The U.K.'s FTSE 100 index is expected to open 36 points higher at 8,056, Germany's DAX up 38 points at 19,081, France's CAC up 11 points at 7,356 and Italy's FTSE MIB up 68 points at 33,335, according to data from IG.
Earnings will come from ABN Amro, RWE, SSE, Alstom, Siemens Energy, Allianz and Telecom Italia.
— Holly Ellyatt
English (US)