World stocks are mixed follow Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of the Federal Reserve’s rate cuts.

A global equities gauge rallied on Wednesday while U.S. Treasury yields fell after data showed core U.S. inflation rose less than expected in December, raising hopes that the Federal Reserve could ease rates further.

U.S. stocks are rallying Wednesday after Wall Street and financial markets worldwide got a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from the biggest U.S.