Premarket: Stocks rally to record highs ahead of U.S. inflation data

World stocks hit new all-time highs on Thursday as traders counted down to U.S. data that is expected to show inflation easing and pave the way for the Fed to start its long-awaited interest rate cut cycle as soon as September.

Bond markets and the dollar were broadly steady, keeping the yen on the weak side of 161 per dollar and near its lowest levels in decades, whereas it gave the sterling the room to climb to a 4-month high. That was after another surge in Nvidia and other Wall Street heavyweights had seen both the Nasdaq and S&P 500 close at new peaks.

Back in Europe, sterling’s four-month high of US$1.2874 came after British GDP data beat expectations and after the Bank of England’s chief economist on Wednesday had sounded vaguer about the timing of rate cuts than many traders had expected.The yen slipped as far as 161.7 per dollar. Data showed Japan core machinery orders unexpectedly down for a second month running, challenging expectations for interest rates to rise.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: Stocks advance ahead of Fed rate decision and U.S. inflation dataGreenback held firm ahead of a key U.S. inflation report and Federal Reserve policy decision that could determine the near-term outlook for interest rates
Source: globeandmail - 🏆 5. / 92 Read more »

S&P 500, Nasdaq reach new highs as stocks prep for Fed, CPIThe S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) cannot be stopped even on the slowest days as the two indices close at yet another set of record highs. The ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

JPMorgan Clients Are Piling Into US Stocks Ahead of Fed, CPIOn an unpredictable day for US monetary policy, stock traders are concerned about one thing: missing out on the next leg of a potential rally.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

European Stocks Rise as US CPI Cools Before Fed Rate DecisionEuropean stocks rose after the US reported slower-than-estimated inflation, encouraging traders that the Federal Reserve is likely to lower interest rates later this year, just hours before the central bank provides updated rate projections.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Fed decision, stocks pop on cool CPI data: Yahoo FinanceCooler-than-expected inflation data for May sent stocks soaring in early trading. The headline Consumer Price Index data was unchanged month-over-month and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Premarket: Global stocks boosted by Nvidia rallyU.S. markets are closed on Wednesday, which will likely result in muted trading throughout the day
Source: globeandmail - 🏆 5. / 92 Read more »