European markets are expected to open higher as global investors gear up for the December reading of U.S. consumer prices on Thursday.
as investors awaited the key inflation report to gauge the outlook for the U.S. Federal Reserve's rate-hiking campaign.
Economists expect the U.S. consumer price index to dip 0.1% for December but rise 6.5% year over year, compared with a 0.1% monthly gain in November and an annual pace of 7.1%, according to Dow Jones. The CPI is well offChina's consumer price index rises 1.8% in Decemberdata from the National Bureau of Statistics"The prices of fresh vegetables and fresh fruits rose by 7.0% and 4.7%, respectively," the report said.
The CPI figure was in line with Reuters' expectations and higher than the previous month's reading of 1.6%.China's producer price index dipped 0.7% in December versus last year, worse than expectations of a 0.1% drop.CNBC Pro: Morgan Stanley names its 'top pick' in Chinese tech — and gives it over 70% upside
China's tech sector has come under pressure in recent years, thanks to a regulatory crackdown and the fallout from the country's zero-Covid policy. But Wall Street is giving Chinese tech stocks some love again, and Morgan Stanley has named its "top pick" in the sector.
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