European markets set to falter at open after red-hot U.S. inflation reading

Global markets are digesting the latest red-hot inflation reading from the U.S. on Wednesday which showed the December reading for the consumer price index, a gauge of prices across a broad spectrum of goods,On a monthly basis, CPI increased 0.5%. Economists expected the consumer price index to rise 0.4% in December, and 7% on a year-over-year basis, according to Dow Jones., so the report will be looked at closely for the longer-term trend.

Though CPI is not the Federal Reserve's primary inflation gauge, policymakers are watching a variety of measures as they embark on the first stages of tightening the most accommodative policy measures in the central bank's history.this year along with the end of the monthly bond-buying program in March and a reduction in asset holdings. Powell said the moves likely will be needed to control inflation at a time when the economy has recovered substantially from the pandemic shock.

In Europe, earnings come from Geberit while Tesco, Marks & Spencer and ASOS release trading statements and consumer sentiment data is released for the U.K., France and Germany.Sign up for

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