Global Stock Markets React to Fed Rate-Cut Speculation and Mixed Data
European stocks rose while the euro weakened after weak French economic data increased expectations of rate cuts by the European Central Bank. The Stoxx 600 index edged higher, on track for its best month since January. Traders are betting on an earlier start to ECB interest-rate cuts next year. Meanwhile, US data showed a soft landing for the economy, with economic activity slowing and consumer spending advancing at a slower rate. Traders are now looking to a speech by Fed Chair Jerome Powell for further guidance. China's equities, however, have been an outlier amid the global rally, as concerns about the growth outlook persist. Oil rose ahead of a key OPEC+ meeting, while gold remained stable after a five-day rally.