Lucy Harley-McKeown
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LIVE: FTSE 100 up, US markets slip as traders look to inflation data, earnings season
How major markets are performing on Monday
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The FTSE 100 and European markets were mixed on Monday and US indices were lower, as traders look to the US consumer inflation report later in the week for clues on the Federal Reserve's potential rate path. Investors have pared their bets on another jumbo rate cut by chair Jerome Powell and his associates after a blowout jobs report last week.
The FTSE 100 (^FTSE) was 0.4% higher the opening bell in the US, while Germany's DAX (^GDAXI) was almost flat and the CAC 40 (^FCHI) in Paris rose 0.4%.
The pan-European STOXX 600 (^STOXX) was 0.3%, following a dip earlier in the session.
Across the pond, the Dow Jones Industrial Average (^DJI) fell 0.3% after notching a fresh record high as stocks soared to close the week. The S&P 500 (^GSPC) shed roughly 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) led the losses with a 0.4% drop.
The wait is now on for the October consumer inflation report due Thursday to provide fresh insight into whether the Fed is making progress on bringing already-cooling price pressures down to its 2% target.
The FTSE 100 was lifted by oil producing companies such as Shell (SHEL.L) and BP (BP.L), whose share prices were buoyed by higher oil costs.
Oil is up due to concerns over potential attacks on infrastructure as conflict rages on. Brent crude (BZ=F) rose 2.1% while crude (CL=F) jumped 2.4% in the session.
Moves also come as new data from Halifax showed year-on-year, house prices have surged by 4.7%, marking the strongest growth rate since November 2022.
The typical property price stands at £293,399, slightly up from £292,540 in August, and represents the highest level since June 2022. Refreshed demand reflects gradually decreasing interest rates set by the Bank of England.
"While rates are improving, they remain significantly elevated compared to pre-pandemic levels, making the cost of borrowing still out of reach for many, especially for first-time buyers," said Karen Noye, mortgage expert at Quilter.
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