Global Stocks Mixed as Investors Weigh Fed Chair Comments, Await Key U.S. Inflation Data

Stock markets in Europe started the day modestly lower across the board while U.S. stock futures were just above flat after Tuesday’s tech sell off on Wall Street. Markets were also taking their cue from Federal Reserve Chair Jerome Powell’s remarks; speaking for the first time since the central bank cut rates last week, on Tuesday he described the Fed’s interest-rate stance as “still moderately restrictive” and highlighted the difficulty of balancing concerns around the softening labor market with inflation risk. Friday’s figures for August PCE inflation, the Federal Reserve’s preferred measure of inflation, will be a key focus for the week.

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