Global stocks mixed as dollar gains, markets watch Trump

BEIJING (AP) — European stocks gained Tuesday while Asian markets mostly fell as expectations of a U.S. rate hike boosted the dollar and investors watched for signs of policy direction from President-elect Donald Trump.

Trump's surprise election initially raised expectations the Federal Reserve might put off a rate hike until his plans were clear.

Analysts say his promises of tax cuts and higher infrastructure spending could boost economic growth but also spur inflation.

ANALYST'S TAKE: "Moving forward, the spotlight could shine on the contentious trade policy proposals that the president-elect had raised during his campaign," said Jingyi Pan of IG in a report.

Benchmark U.S. crude gained 95 cents to $44.27 per barrel in electronic trading on the New York Mercantile Exchange.