World stocks at two-year high, US inflation data in focus

LONDON — European stocks opened higher on Monday and world stocks were steady at their highest in more than two years, as investors waited for U.S. inflation data due this week to give clues about when the U.S. Federal Reserve might cut rates. The S&P 500 rose above 5,000 points for the first time ever last week, boosted by tech stocks, and world equities have risen for three weeks straight, even though U.S. Treasury yields have edged higher recently as investors lower their expectations for how soon the Fed could cut rates. With most major Asian markets closed for holidays, analysts said they expected a quiet day in markets as traders wait for U.S. inflation data on Tuesday, as well…