European bourses are poised to keep the rally going ahead of the always important U.S. CPI data after comments from Fed Chair Jerome Powell reassured investors that the next move from the U.S. central bank was unlikely to be a hike.
Traders are now pinning their hopes on the Fed starting its easing cycle in September although it will depend on the inflation report, which is expected to show CPI rose 0.3% month-on-month in April, down from a 0.4% growth the previous month, according to a Reuters poll. Robinhood hit $5 billion in equities trading on Tuesday, its CEO Vlad Tenev tweeted, underscoring the demand and perhaps the return of the meme stocks mania.
The stock market is about to see a 10% correction, with further disinflation a 'pipe dream' and Fed rate cuts coming much later, Stifel says
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Morning Bid: Power of Powell lifts stocks ahead of US CPIEuropean bourses are poised to keep the rally going ahead of the always important U.S. CPI data after comments from Fed Chair Jerome Powell reassured...
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