Global stock markets were steady on Monday as investors took few risks ahead of this week's Federal Reserve meeting, which may yield clues to the direction of interest rates in coming months.

A surprise bid by Paramount for Warner Bros. Discovery brought the tech sector to life, however, as it could trigger a bidding war against Netflix.

A monetary easing at Wednesday's Fed meeting is fully priced into stock prices, analysts said, but investors will scour the central bank's statement and news conference for insights into how many rate reductions might be on the cards next year, against a backdrop of stubborn inflationary pressures.

"A rate cut (Wednesday) when inflation remains well above target, should be a one-off," predicted Kathleen Brooks, research director at traders XTB.

The "ma

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