Harvest Global Markets :

Investors are eagerly awaiting the U.S. inflation report for November, a pivotal factor in the upcoming interest rate decision by Federal Reserve officials. Alongside this, Epic Games, the creator of “Fortnite,” has emerged victorious in a closely-watched antitrust lawsuit against Google regarding its Play app store.

The impending release of key U.S. inflation data precedes the Federal Reserve’s interest rate decision this week. Projections suggest a slight slowdown in the annual headline consumer price index to 3.1% and an annual rise of 4.0% in “core” consumer prices, reflecting the Fed’s interest rate hikes’ impact on price growth. Despite predictions of a rate reduction, Fed Chair Jerome Powell emphasizes the need for cautious movement until they see signs of subdued inflation.

The Fed initiates its final two-day policy meeting of the year with expectations to maintain interest rates at a more than two-decade high. All eyes are on Powell’s statements and the quarterly “dot plot,” revealing the Fed’s future monetary policy path. Market anticipation leans toward a potential rate cut in May 2024.

U.S. stock futures show marginal gains, reflecting the market’s readiness for the forthcoming consumer price data and the start of the Fed meeting. Wall Street’s recent positive momentum continued, boosting optimism for a potential end-of-year rally.

In a significant legal battle, Epic Games prevails over Google in an antitrust lawsuit, alleging monopolistic practices within the Play app store. The court will now determine the changes Google must implement, starting in January.

Oil prices experience a slight uptick following an attack on a commercial chemical tanker in the Middle East, raising concerns about regional stability. However, cautious trading prevails before the release of crucial U.S. inflation data and the Fed’s rate decision, with inflationary signs potentially impacting the world’s largest fuel consumer.

This condensed version captures the essence of the original article, highlighting the crucial elements of the U.S. inflation report, the Fed’s imminent decision, Epic Games’ legal win, stock market trends, and the impact on oil prices amidst global uncertainties.