Investors track data, Fed minutes

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LONDON — European markets are set for a muted open on Wednesday as investors await euro zone economic data and the U.S. Federal Reserve’s latest meeting minutes.

The pan-European Stoxx 600 index closed Tuesday’s session up 0.8% at its highest level in three months, while markets in Asia-Pacific advanced on Wednesday, tracking overnight gains on Wall Street.

U.S. stock futures were fractionally lower in early premarket trade on Wednesday as investors look ahead to the publication of minutes from Fed’s November meeting, seeking clues on the direction of monetary policy.

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

European investors will be assessing Wednesday’s flash November PMI (purchasing managers’ index) readings from the euro zone for indications on the health of economic activity across the 19-member bloc.

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