European stocks and U.S. equity futures traded flat on Wednesday, a day ahead of key consumer prices Stateside, while a sharp rise in Chinese factory prices sent shares of miners lower. Airlines were among the gainers, after easing travel rules from the U.S.
U.S. stock futures ES00, +0.02% YM00, -0.06% NQ00, +0.08% pointed to a flat start for Wall Street. On Tuesday, the S&P 500 index SPX, +0.02% and Nasdaq Composite COMP, +0.31% closed slightly higher, as markets adopted a wait-and-see mode ahead of Thursday’s crucial consumer-price data for May. While inflation is rising at a far less heated pace in the eurozone, markets will be closely watching Thursday’s European Central Bank monetary policy decision, particularly to see if the central bank will keep its current pace of bond purchases intact.
Mining stocks responded to the Chinese data with losses, with shares of heavily weighted Rio Tinto RIO, -1.61% RIO, +0.56%, Anglo American AAL, -2.14% and Glencore GLEN, -1.36% all down by more than 1%.
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