Stocks open higher following gains in the US

The FTSE 100 is anticipated to start the day higher following robust advances in US markets and data indicating a further slowdown in shop price inflation in January.

Shop price inflation in the UK decreased in January to its lowest level since May 2022, according to data from the British Retail Consortium, as a result of merchants offering steep discounts to draw in customers.

The Bank of England will accept the release prior to its interest rate decision on Thursday.

Prior to a barrage of earnings reports and important economic data, US markets saw significant increases. On Wednesday, the Federal Reserve will announce its interest rate call.

The US Treasury lowered its projection for government borrowing for the current quarter, which gave the markets a boost.

The Treasury Department stated that it has revised its net borrowing forecast for January through March from $816 billion, which was disclosed in late October, to $760 billion.

Full-year results from Advanced Micro Devices, Alphabet, General Motors, Microsoft, and Pfizer are scheduled to be released on Tuesday in New York.

On the economic front, there is German and Eurozone GDP data due before lunchtime. Followed by CB Consumer Confidence and JOLTs Job Openings over in the US.

(Sources: investing.com, proactiveinvestors.co.uk)