U.S. inflation looms, Disney's TV plans - what's moving markets

investing.com:

Investing.com — Investors are gearing up for the release of key U.S. inflation data that could factor into future policy decisions taken by the Federal Reserve. Disney shares move higher premarket after the entertainment giant announces price hikes on its streaming platform, but boss Bob Iger says the company is considering options for its flagging TV business. Elsewhere, China expresses «serious concern» over a U.S. ban on some investments in the country's tech sector, hinting at a potential retaliation.

1. U.S. inflation looms

The all-important U.S. consumer price index for July is due out on Thursday, giving investors a fresh chance to judge the trajectory of inflation in the world's largest economy and update their estimates for Federal Reserve policy decisions.

Economists predict that the headline measure climbed by 3.3% year-on-year, accelerating from 3.0% in June. However, an atypically soft corresponding figure in July 2022 suggests that markets may not place too much importance on the quickening pace.

On a monthly basis, the gauge is seen holding steady at 0.2%. Meanwhile, the core reading, which strips out volatile items like food and energy, is predicted to remain unchanged at an uptick of 4.8% annually and 0.2% month-on-month.

Along with loosening a tight labor market, cooling red-hot inflation has been the main objective of Fed policy during its more than year-long campaign of interest rate hikes. After peaking at 9.1% last summer, headline inflation has steadily decelerated closer to the central bank's 2% target, although the core number has been stubbornly elevated.

At its most recent gathering, the Fed chose to raise borrowing costs by a further 25 basis points and noted that its future policy decisions