"Global Stock Markets Retreat as Yields Rise and China Skips Rate Cut"

European stocks fell as bond yields rose and China's central bank surprised investors by skipping an expected rate cut. U.S. markets were closed for Martin Luther King, Jr. Day. Investors are awaiting key data on Chinese growth, British inflation, and U.S. retail sales, as well as speeches from central bank officials. European Central Bank officials pushed back against market expectations for rapid interest rate cuts, while Japanese stocks continued to rise. The focus at the World Economic Forum meeting in Davos will be on global politics, and oil prices drew support from disruptions to shipping in the Red Sea.