Global stocks as focus slowly turns away from Trump

LONDON (AP) — Global stock markets traded in fairly narrow ranges Tuesday as investors slowly turned their focus away from what President-elect Donald Trump will do in office to more fundamental drivers, such as whether the Federal Reserve will raise interest rates next month.

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

How U.S. markets actually open could well hinge on retail sales figures for October.

Any shortfall from the anticipated 0.6 percent monthly rise could jolt confidence over the state of the U.S. economy going into the transition period from one president to another.

ANALYST TAKE: "For what feels like the first time in a long time, fundamentals get a look in today after the overriding dominance of political markets drivers," said Fiona Cincotta, market analyst at City Index.