Global Stock Markets Struggle Despite China's Stimulus Efforts

Global stock markets faced challenges despite China's stimulus measures, with European stocks showing minimal gains and oil prices dropping. U.S. consumer confidence data supported expectations for a Federal Reserve rate cut. The People's Bank of China's policies spurred mixed reactions among analysts concerning their effectiveness in boosting the economy.

Global stock markets struggled on Wednesday to sustain the momentum spurred by China's recent monetary stimulus, with European stocks showing only modest gains after opening in the red.

Despite stimulus measures, oil prices retreated and the dollar weakened. U.S. consumer confidence data suggested a greater likelihood of another significant rate cut by the Federal Reserve in its upcoming meeting.

Analysts questioned the effectiveness of the People's Bank of China's broad-based policy measures in tackling sluggish consumer demand, while market players exhibited cautious optimism.

(With inputs from agencies.)