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Stock market today: World shares are mostly higher ahead of a US report on inflation

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Shares are mostly higher in Europe and Asia ahead of a report on inflation in the U.S. that could sway the Federal Reserve's timing on cutting interest rates.

A currency trader passes by the screens showing the Korea Composite Stock Price Index , center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, March 12, 2024. Shares were mostly higher in Asia on Tuesday ahead of a report on inflation in the U.S. that could sway the Federal Reserves timing on cutting interest rates.

That speculation has pushed the Japanese yen higher against the U.S. dollar. Early Tuesday, the dollar was trading at 147.35 yen, up from 146.95 yen. Recently the dollar was trading at about 150 yen. Elsewhere in Asia, the S&P/ASX 200 edged 0.1% higher to 7,712.50. South Korea's Kospi advanced 0.8% to 2,681.81.Prices have been buoyed by expectations that cuts to interest rates are coming this year and by signals that the economy remainsTuesday’s report on prices Americans pay could show inflation remained at 3.1% in February, if economists’ forecasts are correct.on inflation at the consumer level sent financial markets spinning.

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