European Stocks Bounce Back as Oil Prices Ease and Bond Yields Stabilize
European stock markets are poised for a higher opening on Wednesday as the recent surge in oil prices and global bond yields has begun to lose steam.
The US crude inventories unexpectedly increased, causing oil prices to ease from multi-month highs. Meanwhile, global bond yields stabilized following their recent climb, as investors focus on key central bank decisions this week.
The US Federal Reserve is widely expected to raise interest rates later today, marking its first hike in roughly three years. The Bank of England is expected to keep rates unchanged on Thursday, despite fresh data showing UK consumer inflation accelerated to 3.1% in August, its highest level in five months.
Investors will also be keeping an eye on Italy's final August inflation figures and the latest Eurozone data on industrial production and wages. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures gained 0.4% and 0.3%, respectively.