Stocks were poised for muted opening moves and government-bond yields extended their advance as investors awaited earnings from Morgan Stanley and Bank of America
, maker of World of Warcraft and Call of Duty. The drop was Sony’s biggest since 2008.
in the coming months, withdrawing a pillar of support for markets. Mounting expectations of interest-rate rises follow evidence that the drivers of inflation have broadened beyond the supply-chain shock that fueled price gains for much of 2021. In the U.K., data out Wednesday showed consumer prices rising at 5.4% in December, the fastest rate since March 1992—shortly before the country was compelled to leave the European Exchange Rate Mechanism on ‘Black Wednesday.’ The pace of price growth was far above the 2% target set by the Bank of England, which in December becameInvestors will get a glimpse of the health of the U.S. housing market at 8:30 a.m. ET.
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