European stocks fell on the eve of Nvidia's earnings report later today. British stocks fell after data showed inflation cooled less than expected last month, which could delay interest rate cuts. At the same time, British Prime Minister Sunak announced a general election on July 4, confirming previous BBC reports.
UK consumer prices rose 2.5 percent year-on-year in Aprildeuceswildpokermachine.3%, lower than the previous monthdeuceswildpokermachine3.2%, but at the high end of economists 'expectation range. Part of the reason for the recent surge in stock indexes is expectations that the Bank of England will start easing monetary policy as early as next month.
"This morning's mixed inflation data has left the Bank of England in a dilemma over whether to cut interest rates in June," said Matthew Landon, global market strategist at JPMorgan Private Bank."Between now and June 20, unless there is a major unexpected downside in May inflation data and labor market data, the market is expected to start moving to the August benchmark scenario."
In the European market, the focus is on artificial intelligence leader Nvidia, which is seen as the key to judging the prospects of the artificial intelligence boom. According to Wall Street estimates, the company's single-quarter revenue that ended in April is expected to grow 243%.
Better-than-expected corporate results and expectations that the European Central Bank will cut interest rates ahead of the Federal Reserve have helped European stock markets resume their rally to near record highs.