Global stocks are mostly down ahead of key U.S. inflation report

"European shares were trading lower on Friday following a mixed session in Asia as investors awaited a key U.S. inflation report.Economists expect the U.S. personal consumption expenditures index, due later in the day, to show inflation remained at about 2.6% in July.The futures for the S&P 500 and Dow Jones Industrial Average were down 0.3%.Oil prices were also lower.In early European trading, Germany's DAX shed 0.6% to 23,901.77 as the latest figures showed unemployment remained at 6.3% in July, for a sixth straight month."

"Tokyo's Nikkei 225 fell 0.3% to 42,718.47 after a slew of data released Friday showed Japan's factory output slumped in July as higher tariffs hit on exports to the United States. Inflation in Tokyo also slowed to 2.6% year-on-year, while the jobless rate fell to 2.3% in July from 2.5% in June. "Today's Japanese data was mixed, with disappointing industrial production threatening third-quarter growth, while a tight labor market points to increased wages and underlying inflation remaining firm,""

European stock markets opened lower ahead of the U.S. personal consumption expenditures inflation reading, with S&P 500 and Dow futures down about 0.3% and oil prices falling. Germany's DAX declined amid unemployment holding at 6.3% and seasonally adjusted joblessness topping three million. Britain's FTSE 100 and France's CAC 40 also eased. In Asia, Tokyo's Nikkei fell after factory output slumped and Tokyo inflation slowed, though the jobless rate edged down. ING described the Japanese data as mixed and suggested October as a likely timing for a Bank of Japan rate hike. Hong Kong and Shanghai posted modest gains while Chinese chipmakers stayed buoyant on government support.

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