► In Europe the Stoxx 600 is extending the negative trend – currently trading at -0.4%. In economic news, Spain's inflation rate jumped to 3.5% in September, with retail sales also seeing a year-on-year increase of 7.2%. European markets await the release of Eurozone economic sentiment (09:00 UTC+0) and CPI data from Germany (12:00 UTC+0).
► Markets in the US closed on a mixed note on Tuesday, with the Nasdaq Composite rising by 0.22%, the S&P 500 remaining steady, and the Dow Jones declining by 0.20%. Upcoming data releases later today (12:30 UTC+0) include the US GDP, initial jobless claims, and the personal consumption expenditures price, which is the Fed’s primary inflation indicator. Investors also await speeches from US Federal Reserve officials for more insight on the data and the status on inflation as a whole.
► Rising oil prices continue to increase inflation worries, with the 10-year US Treasury yield hovering around 4.6%, the highest since 2007.
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