European stocks hit record highs as investors await U.S. CPI report

According to Jinshi, investors are waiting for the release of the U.S. CPI report to get more clues about the Fed's expectations for interest rate cuts. Meanwhile, the Stoxx Europe 600 index rose 0.3%, recording gains for the ninth consecutive trading day, its longest winning streak since August 2021. After losing momentum last month, European stocks recovered again in May as investors bet that U.S. inflation will cool quickly, allowing the Federal Reserve to cut interest rates later this year.