US. stocks edged slightly higher yesterday, rising 0.1%, as investors await the release of the latest readings on inflation for clues on the Federal Reserve’s next policy move.
In political news, renewed hope for a U.S. tax overhaul also helped the dollar, as the trade weighted currency increased for a third day. Trump administration officials and congressional Republican leaders are promising a new framework in two weeks for the legislation.
European stocks gained 0.3% after trading lower most of the day. Energy stocks were among some of the better performing sectors, rising 0.4%, following gains in the oil price.
Banking sector stocks gained for a fourth day, rising 0.5%, as European lenders were supported by higher yields.
In UK news, the central bank will announce their latest policy move today. Market expectations are for the BOE to remain on hold following recent data reflecting sluggish wage growth and a lack of evidence that the economy is rebalancing.
In Asia overnight Chinese and Japanese equities fell, declining 0.6% and 0.3%.