European markets head for higher open as investors shrug off economic fears

European markets are heading for a higher open Tuesday as investors in the region appear to shrug off concerns among their U.S. and Asia-Pacific counterparts over China’s tightening of Covid restrictions, which are continuing to pressure output.

Investors continue to watch economic data closely and assess how it could affect the trajectory of monetary policy from central banks.

Global investors have taken some heart from recent, lower-than-expected consumer and wholesale inflation prints in the United States, prompting bets that the Federal Reserve would have to slow its aggressive interest rate hikes.

Morgan Stanley’s Chief U.S. Equity Strategist Mike Wilson said he expects a “pretty steep decline in inflation,” and predicts when this could happen.

But he said there are two areas that are exceptions, where inflation could be “stickier.”

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