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Morning Bid: Markets ponders rate path, shares listless

The cold harsh reality of the Federal Reserve likely keeping interest rates higher for longer to combat inflation has put a lid on the post-U.S. CPI exuberance, with the listless mood set to continue at European bourses. The final euro zone inflation reading for April headlines economic data on Friday and traders will hope the report will cement what has been known for a while: A rate cut from the European Central Bank (ECB) is on the way in June. ECB board member Isabel Schnabel said the central bank may lower rates in June, but should be cautious about further cuts in borrowing costs given uncertainty over the outlook, Japan's Nikkei newspaper reported.