Global Stocks Edge Toward Records as CPI, Trump-Putin Talks Loom

Global equity markets inched higher on Monday, pushing the MSCI World Index to within 0.2% of its late-July peak as investors positioned for a pivotal week dominated by U.S. inflation data and high-level geopolitics. Europe’s Stoxx 600 gained 0.3% while S&P 500 futures added 0.2%. The advance came as traders awaited Tuesday’s U.S. consumer-price report, which is expected to show core inflation accelerating to an annual 3.0%. An upside surprise could complicate bets on a Federal Reserve rate cut in September; futures currently assign roughly a 90% probability of an easing. Bond markets were steady, with the U.S. 10-year Treasury yield at 4.25%. In commodities, Brent crude slipped 0.9% to $65.97 a barrel on expectations that this Friday’s meeting between President Donald Trump and Russian President Vladimir Putin in Alaska could lead to progress toward a cease-fire in Ukraine and, eventually, a loosening of sanctions on Russian oil exports. Gold fell about 1% to $3,360 an ounce. The geopolitical calendar also includes a Tuesday deadline on U.S. tariffs on Chinese goods, which analysts expect Washington to extend. Together with the inflation print and the Trump-Putin talks, the developments are set to define market sentiment and the near-term trajectory for the dollar, commodities and risk assets.