World Stock Markets Mixed, Awaiting Heavy Dose Of U.S. Data Thursday

London (Sept 15)  World stock markets were narrowly mixed overnight. U.S. stock indexes are pointing toward firmer openings when the New York day session begins. World bond markets are in focus, as yields on many government bonds have increased significantly lately.

In overnight news, the Bank of England is held its regular meeting on monetary policy Thursday. The BOE made no change in interest rates, as expected. The BOE last month announced new monetary policy stimulus measures.

U.K. retail sales in August were down 0.2% from July, which was better than market expectations of a drop of 0.5%. However, retail sales were up 6.2%, year-on-year. That's the strongest annual growth rate in 15 years. This is yet another upbeat economic report from the U.K., following the surprise Brexit vote in late-June.

The Euro zone consumer price index in August was up 0.1% from July and was up 0.2% year-on-year. The numbers were right in line with market expectations.

There is a heavy slate of U.S. economic data due for release Thursday, which could move markets. The data includes the weekly jobless claims report, the producer price index, retail sales, the Empire State manufacturing survey, the Philadelphia Fed business survey, industrial production and capacity utilization, and manufacturing and trade inventories.

The world marketplace is looking forward to next week's meeting of the Federal Reserve's Open Market Committee (FOMC). Trading may be more subdued ahead of the meeting, which begins next Tuesday and ends next Wednesday afternoon. The markets are putting just slight odds on the prospect of the Fed raising rates at that meeting. The more likely date of a U.S. rate hike would be in December, according to traders and investors. The Bank of Japan also meets to discuss its monetary policy next week.

Source: KitcoNews