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American and European stock markets mostly rose on Wednesday after inflation data cemented expectations that the US Federal Reserve will trim interest rates next month.While the Dow fell slightly, the other two major US indices advanced, led by the tech-rich Nasdaq, which piled on almost two percent to close above 20,000 points for the first time.The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October.”With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week,” Jochen Stanzl, chief market analyst at CMC Markets.”The data is not a showstopper for the current bull run on Wall Street,” he added.Ahead of the data, investors priced in an 86 percent chance the Fed will cut interest rates next week by a quarter percentage point. That rose to more than 98 percent after the CPI data was published.Stocks in Paris and Frankfurt rose ahead of the European Central Bank’s own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth.Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister “within 48 hours” as he seeks to end political deadlock following the ouster of Michel Barnier.In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt’s DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion).Shares in Zara owner Inditex slid more than six percent after a record quarterly profit for the group fell short of market estimates.Among US companies, Google parent Alphabet earned 5.5 percent as it announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date. That added to gains after Google also announced Tuesday details of a breakthrough quantum chip.Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red.Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders were to gather Wednesday for a conference to hammer out next year’s agenda.President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would “implement a more active fiscal policy and an appropriately relaxed” strategy.Those remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending.- Key figures around 2150 GMT -New York – Dow: DOWN 0.2 percent at 44,148.56 (close)New York – S&P 500: UP 0.8 percent at 6,084.19 (close)New York – Nasdaq Composite: UP 1.8 percent at 20,034.89 (close)London – FTSE 100: UP 0.3 percent at 8,301.62 (close)Paris – CAC 40: UP 0.4 percent at 7,423.40 (close)Frankfurt – DAX: UP 0.3 percent at 20,399.16 (close)Tokyo – Nikkei 225: FLAT at 39,372.23 (close)Hong Kong – Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close)Shanghai – Composite: UP 0.3 percent at 3,432.49 (close)Euro/dollar: DOWN at $1.0498 from $1.0527 on TuesdayPound/dollar: DOWN at $1.2752 from $1.2771Dollar/yen: UP at 152.40 yen from 151.95 yen Euro/pound: DOWN at 82.31 from 82.42 penceBrent North Sea Crude: UP 1.8 percent at $73.52 per barrelWest Texas Intermediate: UP 2.4 percent at $70.29 per barrelburs-jmb/mlm

Economic officials in outgoing President Joe Biden’s administration are set to meet their Chinese counterparts this week for talks, in a final effort to strengthen ties before Donald Trump’s White House return.The talks come as Treasury Secretary Janet Yellen stressed in an interview Wednesday the need for “ongoing communications at all levels” to avoid needless worsening in relations between the world’s two biggest economies.Economic and trade tensions between Washington and Beijing have continued to flare during Biden’s time in office.But temperatures could rise further under Trump, who has threatened sweeping tariff increases on Chinese goods ahead of his presidency, most recently over concerns surrounding the flow of illegal fentanyl into the United States.”It’s critical to have open channels of communication,” Yellen told Bloomberg Television, warning that Trump’s universal tariffs proposal would likely trigger retaliation.For now, US officials are seeking to reinforce communication channels on economic issues.On Thursday, Treasury Under Secretary for International Affairs Jay Shambaugh is due to meet Chinese Vice Minister of Finance Liao Min for an economic working group meeting on the sidelines of Group of 20 talks in South Africa, said the Treasury Department.”The United States and China are the two largest economies on the globe, and the American people expect that we should be able to communicate directly with Chinese officials on both areas where we agree and especially on areas where we don’t,” said Shambaugh.Treasury officials are expected to raise issues of concern like recent Chinese export restrictions on certain key minerals, a department spokesperson said.They will also discuss China’s macroeconomic imbalances and excess industrial capacity, which they believe recent policy stimulus efforts by Chinese lawmakers have not fully addressed.Treasury officials and representatives from other agencies will travel to the eastern Chinese city of Nanjing as well, for a financial working group meeting taking place Sunday and Monday.”This upcoming meeting will continue our work to strengthen efforts to preserve financial stability and counter illicit finance threats like fraud and drug and human trafficking,” said Treasury Assistant Secretary for International Finance Brent Neiman, who is leading the US team.China’s delegation is expected to be headed by People’s Bank of China deputy governor Xuan Changneng. 

US and European stock markets mostly rose on Wednesday after inflation data cemented expectations that the Federal Reserve will trim interest rates next month.Wall Street’s three main indexes pushed higher at the opening bell after November consumer inflation figures were in line with analyst expectations.The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October.”With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week,” Jochen Stanzl, chief market analyst at CMC Markets.”The data is not a showstopper for the current bull run on Wall Street,” he added.Ahead of the data investors priced in a 86 percent chance the Fed will next week cut interest rates by a quarter of a percentage point. That rose to 98 percent after the CPI data was published.But with inflation already ticking higher, and the possibility that US president-elect Donald Trump’s planned policies could reignite price increases, analysts see the Fed likely taking a breather.”The Fed will likely await further jobs market and inflationary data before considering the third instalment of this rate cutting cycle, allowing the latest rate cut to have its full effect,” said Srijan Katyal, chief strategist at ADSS brokerage.Meanwhile the S&P 500 advanced solidly and the tech-heavy Nasdaq Composite gained more than one percent, flirting with the 20,000 level.However the Dow gave up its early gains and was flat as European markets closed.Paris and Frankfurt stocks rose ahead of the European Central Bank’s own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth.Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister “within 48 hours” as he seeks to end political deadlock following the ouster of Michel Barnier.In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt’s DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion).Shares in Zara owner Inditex slid more than six percent after a record quarterly profit for the group fell short of market estimates.Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red.Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders gather Wednesday for a conference to hammer out next year’s agenda.President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would “implement a more active fiscal policy and an appropriately relaxed” strategy.Those remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending.The announcement comes as officials prepare for a second term for Trump, who has indicated he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers.- Key figures around 1630 GMT -New York – Dow: FLAT at 44,243.17 pointsNew York – S&P 500: UP 0.8 percent at 6,083.03New York – Nasdaq Composite: UP 1.5 percent at 19,986.96London – FTSE 100: UP 0.3 percent at 8,301.62 (close)Paris – CAC 40: UP 0.4 percent at 7,423.40 (close)Frankfurt – DAX: UP 0.3 percent at 20,399.16 (close)Tokyo – Nikkei 225: FLAT at 39,372.23 (close)Hong Kong – Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close)Shanghai – Composite: UP 0.3 percent at 3,432.49 (close)Euro/dollar: DOWN at $1.0492 from $1.0529 on TuesdayPound/dollar: DOWN at $1.2749 from $1.2773Dollar/yen: UP at 152.48 yen from 151.92 yen Euro/pound: DOWN at 82.30 from 82.42 penceBrent North Sea Crude: DOWN 0.1 percent at $71.05 per barrelWest Texas Intermediate: UP 1.6 percent at $69.66 per barrelburs-rl/sbk

US and European stock markets rose on Wednesday after inflation data cemented expectations that the Federal Reserve will trim interest rates next month.Wall Street’s three main indexes snapped higher at the opening bell after November consumer inflation figures were in line with analyst expectations.The consumer price index (CPI) rose to 2.7 percent last month from a year ago, up slightly from 2.6 percent in October.”With the CPI numbers broadly in line, it is likely that the Fed will not be derailed and will cut rates again next week,” Jochen Stanzl, chief market analyst at CMC Markets.”The data is not a showstopper for the current bull run on Wall Street,” he added.Ahead of the data investors priced in a 86 percent chance the Fed will next week cut interest rates by a quarter of a percentage point. That rose to 98 percent after the CPI data was published.But with inflation already ticking higher, and the possibility that US president-elect Donald Trump’s planned policies could reignite price increases, analysts see the Fed likely taking a breather.”The Fed will likely await further jobs market and inflationary data before considering the third installment of this rate cutting cycle, allowing the latest rate cut to have its full effect,” said Srijan Katyal, chief strategist at ADSS brokerage.Paris and Frankfurt stocks rose ahead of the European Central Bank’s own interest rate announcement on Thursday, with analysts expecting another cut as it seeks to boost eurozone growth.Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister “within 48 hours” as he seeks to end political deadlock following the ouster of Michel Barnier.In company news, shares in German retail giant Zalando shed more than four percent on Frankfurt’s DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion).Shares in Zara owner Inditex slid six percent after a record quarterly profit for the group fell short of market estimates.Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red.Traders were keeping tabs on China to see if it will announce further measures to support its struggling economy as leaders gather Wednesday for a conference to hammer out next year’s agenda.President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would “implement a more active fiscal policy and an appropriately relaxed” strategy.The remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending.The announcement comes as officials prepare for a second term for Trump, who has indicated he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers.- Key figures around 1430 GMT -New York – Dow: UP 0.2 percent at 44,328.42 pointsNew York – S&P 500: UP 0.5 percent at 6,063.82New York – Nasdaq Composite: UP 0.8 percent at 19,841.29London – FTSE 100: UP 0.3 percent at 8,306.34 Paris – CAC 40: UP 0.4 percent at 7,427.64 Frankfurt – DAX: UP 0.1 percent at 20,349.08Tokyo – Nikkei 225: FLAT at 39,372.23 (close)Hong Kong – Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close)Shanghai – Composite: UP 0.3 percent at 3,432.49 (close)Euro/dollar: DOWN at $1.0510 from $1.0529 on TuesdayPound/dollar: DOWN at $1.2759 from $1.2773Dollar/yen: UP at 152.09 yen from 151.92 yen Euro/pound: DOWN at 82.38 from 82.42 penceBrent North Sea Crude: DOWN 0.1 percent at $71.05 per barrelWest Texas Intermediate: UP 1.2 percent at $69.44 per barrelburs-rl/lth

Stock markets struggled for direction Wednesday as traders awaited key US inflation data with the Federal Reserve expected to cut interest rates next week.Traders were also keeping tabs on China to see if it will announce further measures to support its struggling economy.Seoul extended Tuesday’s rebound, though political uncertainty after South Korean President Yoon Suk Yeol’s brief imposition of martial law kept the won around two-year lows against the dollar.All three main Wall Street indexes ended in the red Tuesday, with analysts pointing to profit-taking from a string of records, with the focus now on the consumer price index release due later in the day.”Today’s US CPI print for November is pivotal for markets,” said Kathleen Brooks, research director at trading group XTB. The reading is expected to show a slight pick-up in inflation but there is still a strong expectation the US central bank will cut rates for a third straight meeting next week.Brooks added that higher-than-expected inflation could lead to questions over future rate cuts, especially with the possibility that US president-elect Donald Trump’s planned policies could reignite inflation.Beijing’s attempts to kickstart growth are also in view, with China’s leaders gathering for a conference aimed at hammering out next year’s agenda.President Xi Jinping and other top leaders on Monday announced their first major shift in policy for more than a decade, saying they would “implement a more active fiscal policy and an appropriately relaxed” strategy.The remarks sparked hopes for more interest rate cuts and the freeing up of more cash for lending.The announcement comes as officials prepare for a second term for Trump, who has indicated he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers.Shares in Shanghai rose Wednesday but Hong Kong gave up an early rally to end in the red.Paris and Frankfurt stocks edged up awaiting Thursday’s expected rate cut from the European Central Bank as it seeks to help boost eurozone growth.Investors are also eyeing political developments in France, where officials said President Emmanuel Macron aims to name a new prime minister “within 48 hours” as he seeks to end political deadlock following the ouster of Michel Barnier.In company news, shares in German retail giant Zalando shed around five percent on Frankfurt’s DAX index, after it acquired domestic rival About You in a deal worth around 1.1 billion euros ($1.2 billion).Shares in Zara owner Inditex slid six percent after a record quarterly profit for the group fell short of market estimates.Oil prices gained one percent on supply worries, as the US considers new sanctions against Russia, the world’s second largest oil producer.- Key figures around 1100 GMT -London – FTSE 100: UP 0.1 at 8,285.07 pointsParis – CAC 40: UP 0.1 percent at 7,404.20 Frankfurt – DAX: UP 0.1 percent at 20,347.47Tokyo – Nikkei 225: FLAT at 39,372.23 (close)Hong Kong – Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close)Shanghai – Composite: UP 0.3 percent at 3,432.49 (close)Seoul – Kospi: UP 1.0 percent at 2,442.51 (close)New York – Dow: DOWN 0.4 percent at 44,247.83 (close)Euro/dollar: DOWN at $1.0497 from $1.0529 on TuesdayPound/dollar: DOWN at $1.2724 from $1.2773Dollar/yen: UP at 152.63 yen from 151.92 yen Euro/pound: UP at 82.49 from 82.42 penceBrent North Sea Crude: UP 1.0 percent at $72.91 per barrelWest Texas Intermediate: UP 1.1 percent at $69.31 per barrel

Markets diverged on Wednesday ahead of US inflation data that could play a key role in the Federal Reserve’s interest rate decision next week, while traders were also keeping tabs on Beijing hoping for more economic support measures.Seoul extended Tuesday’s rebound rally, though political uncertainty after South Korean President Yoon Suk Yeol’s brief imposition of martial law kept the won under pressure around two-year lows against the dollar.Investors were taking a breather after a run of volatility in recent weeks fuelled by a range of issues including Donald Trump’s re-election, the crisis in South Korea, upheaval in the Middle East and ongoing worries about China’s economy.All three main Wall Street indexes ended in the red Tuesday, with analysts pointing to profit-taking from a string of records, with the focus now on the consumer price index release due later in the day.While the reading is expected to show a slight pick-up, there is still a strong expectation the US central bank will cut rates for a third straight meeting next week.”The holiday season is in full swing, and like countless children around the world wishing for something special from jolly old Saint Nick, equity markets are hoping the US Federal Reserve will bring them a comfy-cosy interest rate cut,” said Saira Malik, chief investment officer at asset manager Nuveen.However, there is speculation that monetary policymakers will not make as many reductions next year as previously expected amid fears that Trump’s planned tax cuts, deregulation and tariff hikes will reignite inflation.Beijing’s attempts to kickstart growth are also in view, with leaders expected to gather Wednesday for a two-day Central Economic Work Conference aimed at hammering out the agenda for next year.President Xi Jinping and other top leaders announced on Monday their first major shift in policy for more than a decade, saying they would “implement a more active fiscal policy and an appropriately relaxed” strategy.The remarks represented a move away from their previous “prudent” approach, sparking hopes for more rate cuts and the freeing up of more cash for lending.The announcement comes as officials prepare for a second term for Trump, who has indicated he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers.Shares in Shanghai rose but Hong Kong gave up an early rally to end in the red.There were gains in Wellington, Mumbai and Jakarta, but Sydney, Singapore, Bangkok, Taipei and Manila fell. Tokyo was flat.Seoul rose one percent to build on Tuesday’s advance of more than two percent, which came after tumbling in the wake of Yoon’s December 3 martial law bid. London, Paris and Frankfurt all opened lower.Traders are now tracking developments as Yoon faces a second impeachment vote on Saturday. On currency markets, the euro dropped ahead of the European Central Bank’s monetary policy meeting on Thursday, when it is expected to cut rates as it seeks to boost the struggling eurozone growth.Investors are also eyeing Paris, where French officials said President Emmanuel Macron aims to name a new prime minister “within 48 hours” as he seeks to end political deadlock following the ouster of Michel Barnier.- Key figures around 0810 GMT -Tokyo – Nikkei 225: FLAT at 39,372.23 (close)Hong Kong – Hang Seng Index: DOWN 0.8 percent at 20,155.05 (close)Shanghai – Composite: UP 0.3 percent at 3,432.49 (close)Seoul – Kospi: UP 1.0 percent at 2,442.51 (close)London – FTSE 100: DOWN 0.3 percent at 8.253,96Euro/dollar: DOWN at $1.0490 from $1.0529 on TuesdayPound/dollar: DOWN at $1.2733 from $1.2773Dollar/yen: DOWN at 151.66 yen from 151.92 yen Euro/pound: DOWN at 82.38 from 82.42 penceWest Texas Intermediate: UP 0.2 percent at $68.71 per barrelBrent North Sea Crude: UP 0.2 percent at $72.32 per barrelNew York – Dow: DOWN 0.4 percent at 44,247.83 (close)

Nippon Steel on Wednesday slammed the “inappropriate” influence of politics on its planned takeover of US Steel after a media report said President Joe Biden would block it.The deal worth $14.9 billion including debts is being reviewed by a body in Washington that assesses foreign takeovers of US firms.Bloomberg News, citing people close to the matter, said Biden planned to kill the sale on national security grounds when the review is finished later this month.”It is inappropriate that politics continue to outweigh true national security interests — especially with the indispensable alliance between the US and Japan as the important foundation,” a Nippon Steel statement said.”We have engaged in good faith with all parties to underscore how the transaction will bolster American economic and national security by countering the threats posed by China,” it added.”Nippon Steel still has confidence in the justice and fairness of America and its legal system, and — if necessary — will work with US Steel to consider and take all available measures to reach a fair conclusion.”The takeover was agreed by the companies around a year ago.US Steel says it needs the Nippon deal to ensure sufficient investment in plants in Pennsylvania, which it warns it may have to shutter if the sale is blocked.But the buyout has been fiercely condemned by the United Steelworkers union — even as Nippon promised investments to keep Pennsylvania factories competitive and newer “mini mills” in the American South.- Trump ‘totally against’ deal -After the deal was first announced, Biden said it was “vital” that US Steel be “domestically owned and operated”.”I told our steelworkers I have their backs, and I meant it,” he also said in March.Even so, days after the November US election, Nippon Steel said it expected to close its takeover of the company before the end of the year, while Biden was still in office.President-elect Donald Trump — who is to be inaugurated on January 20 — has also vowed to block the deal, pledging to bolster US Steel through tax incentives and tariffs instead.”I am totally against the once great and powerful U.S. Steel being bought by a foreign company,” Trump wrote earlier this month on his Truth Social platform.In reaction to the Bloomberg report, the White House said Biden was awaiting the outcome of the ongoing review by the Committee on Foreign Investment in the United States (CFIUS), helmed by Treasury Secretary Janet Yellen.”The president’s position since the beginning is that it is vital for US steel to be domestically owned and operated,” spokeswoman Robyn Patterson said.”We have not received any CFIUS recommendation. The CFIUS process was and remains ongoing.”US Steel shares closed down 9.7 percent Tuesday on Wall Street following the report. Nippon was down 0.4 percent in Tokyo on Wednesday.Japan’s top government spokesman Yoshimasa Hayashi declined to comment directly on the deal but said Japan and the United States would continue “broad” discussions on economic matters.”It is essential for both sides to strengthen Japan-US economic ties, including the expansion of mutual investment,” Hayashi said.

China’s leadership will gather Wednesday to hammer out plans to boost the economy next year, reports said, as they look to address weak domestic demand and the possibility of a deepening trade war with the United States.The annual Central Economic Work Conference (CEWC) is being closely watched by investors for signs of coming stimulus to kickstart growth, which has been hampered by sluggish consumption and a protracted crisis in the property sector.Beijing is also strapping in for four more years of tensions with the United States under President-elect Donald Trump, who has promised to impose stinging tariffs on China.The closed-door economic meeting is expected to run through Thursday, Bloomberg reported, citing sources.Beijing is yet to confirm the conclave will take place, but it typically convenes in the final month of the year and is attended by President Xi Jinping.The gathering follows a meeting on Monday of the Politburo — the country’s top decision-making body — at which officials urged “vigorous” support for consumers next year.The top leadership also called for a “moderately loose” monetary policy in 2025, in what analysts said marked a key shift from the “prudent” approach adopted for more than a decade.Beijing has in recent months unveiled a string of measures intended to boost the economy as they race to achieve an annual growth target of around five percent this year.Xi on Tuesday said the country was “fully confident” it would hit that goal.The measures include key rate cuts, the easing of certain homebuying restrictions and trade-in programmes intended to boost consumption.The readout of Monday’s meeting “leaves little doubt that the shift toward a more supportive policy stance that began back in September is still alive and well”, Julian Evans-Pritchard, head of China economics at Capital Economics, said in a note.”We do expect the (central bank) to step up the pace of rate cuts next year,” he added.But he warned “it is unlikely that they will cut rates anywhere near as aggressively as they did during the (global financial crisis)”.Beyond monetary policy, some analysts believe Chinese leaders might move more aggressively to shore up demand at home.”Monetary stimulus will only work if Beijing lifts broader business and household confidence,” Shehzad Qazi, managing director of consultancy firm China Beige Book, told AFP.While the Politburo meeting aided a bump in Hong Kong and Shanghai stocks on Tuesday, many observers say they are still waiting to see specific policy announcements on how Beijing plans to boost growth in the coming year.”So far there is still no focus on major household side stimulus, which would actually help lift consumer spending in 2025 and beyond,” said Qazi.

Ex-employees of a Japanese textile company in Ecuador told Tuesday of their dire living and working conditions, after the country’s constitutional court ruled the firm kept its staff in a slave-like setting.Some gave birth to children in unsanitary and overcrowded camps, while others were denied proper medical attention after work-related injuries, according to testimonies given at a news conference in Quito. Justices last week ordered the company, Furukawa, to pay $120,000 to each of the 342 victims — a total of around $41 million. It will also have to make a public apology to them. As of 2021, Furukawa’s plantations for abaca — a fine plant fiber — covered almost 23,000 hectares spread over three provinces on the Pacific coast, where the majority of the population is Black.”We have been confronting the monster that is Furukawa,” Segundo Ordonez, a 59-year-old farmer, told Tuesday’s meeting at the headquarters of Ecuador’s Ecumenical Human Rights Commission (CEDHU).He recalled a lack of medical attention on the plantations, where nine people died in work-related accidents.”A friend was cut, we were working in a downpour. That was the most anger I felt, seeing him shedding blood like an animal and nobody doing anything,” Ordonez said.Maria Guerrero recounted that her parents took her and six siblings to the Furukawa crops when she was two years old. She knew no other place for three decades and met her husband there, with whom she had seven children.”I gave birth to all my children in the company, I did not have a postpartum check-up or a medical check-up during my pregnancy. It is something I will always carry in my heart as a wound,” the 39-year-old said.Furukawa contested the constitutional court’s decision, arguing that there were inconsistencies and asking for a downward revision of the financial compensation ordered, which it deemed impossible to comply with.

Global stock markets mostly retreated Tuesday as traders eyed looming US inflation data and a key European interest rate call amid global political upheaval.After winning numerous records in the weeks since the November 5 US presidential election, US stocks fell for the second straight day as analysts pointed to profit-taking.But Alphabet jumped more than five percent after Google showed off a new quantum computing chip that it described as a significant breakthrough in the field, arguing it could lead to advances in drug discovery, fusion energy and other areas.The Paris stock market retreated as French party leaders gathered at President Emmanuel Macron’s Elysee Palace office to chart a route towards a new government.The euro also fell ahead of the European Central Bank’s monetary policy meeting on Thursday. The ECB is expected to lower interest rates by 25 basis points amid weak eurozone growth.Independent analyst Andreas Lipkow said traders were taking a cautious approach ahead of the ECB meeting. The main US indexes struggled as traders eyed US consumer price inflation (CPI) data due Wednesday, which could play a role in whether the US Federal Reserve decides to cut interest rates next week.On Wall Street, “tomorrow’s CPI report is in full focus with a looming rate-decision from the Fed coming,” analyst Bret Kenwell of trading platform eToro said in a note.Following recent spending and jobs data “traders have felt even more emboldened to bet on a December rate cut, while the Fed has done little… to quiet that expectation,” he added.Earlier, stock markets weighed “concerns that China’s economic stimulus measures might not have a long-lasting effect”, noted Dan Coatsworth, investment analyst at AJ Bell.The growth plan comes as Beijing contemplates Donald Trump’s second term in the White House.The US president-elect has indicated he will reignite his hardball trade policies, fueling fears of another standoff between the economic superpowers.The Shanghai stock market ended higher but Hong Kong fell.Seoul’s Kospi index rallied more than two percent after tumbling since President Yoon Suk Yeol declared short-lived martial law on December 3.On the corporate front, shares in Stellantis rose around one percent on the Paris stock exchange after the car giant and Chinese manufacturer CATL announced plans for a $4.3-billion factory making electric-vehicle batteries in Spain.Walgreens Boots Alliance soared 17.7 percent following reports that it could be acquired by private equity firm Sycamore Partners.Boeing jumped 4.5 percent as it announced it was resuming production at two Seattle-area plants that had been shuttered for nearly three months due to a labor strike.- Key figures around 2130 GMT -New York – Dow: DOWN 0.4 percent at 44,247.83 (close)New York – S&P 500: DOWN 0.3 percent at 6,034.91 (close)New York – Nasdaq Composite: DOWN 0.3 percent at 19,687.24 (close)Paris – CAC 40: DOWN 1.1 percent at 7,394.78 (close)Frankfurt – DAX: DOWN 0.1 percent at 20,329.16 (close)London – FTSE 100: DOWN 0.9 percent at 8,280.36 (close)Hong Kong – Hang Seng Index: DOWN 0.5 percent at 20,311.28 (close)Shanghai – Composite: UP 0.6 percent at 3,422.66 (close)Tokyo – Nikkei 225: UP 0.5 percent at 39,367.58 (close)Seoul – Kospi: UP 2.4 percent at 2,417.84 (close)Euro/dollar: DOWN at $1.0529 from $1.0554 on MondayPound/dollar: UP at $1.2773 from $1.2757Dollar/yen: UP at 151.92 yen from 151.21 yen Euro/pound: DOWN at 82.42 from 82.73 penceWest Texas Intermediate: UP 0.1 percent at $68.59 per barrelBrent North Sea Crude: UP 0.1 percent at $72.19 per barrelburs-jmb/nro