Stocks rise, dollar drifts ahead of US inflation report

SINGAPORE - Asian stocks rose on Wednesday while the dollar drifted lower as traders weighed mixed U.S. producer price data and braced for the crucial consumer price report later in the day that is likely to influence the Federal Reserve's near-term policy path.

Investors have had to dial back their expectations of U.S. rate cuts this year due to sticky inflation and are now pricing in 43 basis points of easing this year, compared with 150 bps of easing anticipated at the start of 2024. Powell reiterated his message of caution over rate cut expectations although the Fed chief, along with Federal Reserve Bank of Cleveland President Loretta Mester, poured cold water over any rate hike thoughts, ING economists said.The Nasdaq scored a record closing-high on Tuesday and the S&P 500 and the Dow also rose, boosted by Powell's comments that reassured investors that the central bank's next interest rate move was unlikely to be a hike.

In the currency market, the dollar was on the backfoot as traders remained hesitant in making moves ahead of the CPI report, with the euro close to its one-month peak and was last at $1.0817. In commodities, oil prices edged higher as large wildfires were threatening Canada's oil sands and as the market expected U.S. crude oil and gasoline inventories to show a drawdown later in the day. Spot gold XAU=was little changed at $2,356.79 per ounce.4 Stocks I Think Every Canadian Should Have in a TFSA

Inflation falling further from here in the near term is a "pipe dream" and rate cuts will continue to be pushed out, Stifel strategists said.Trump Media executives have launched a public campaign against short sellers but the stock isn't moving in the same way as other meme stocks.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: Asian stocks drift after Wall Street closes another winning weekHONG KONG (AP) — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week. U.S. futures were mixed and oil...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Stocks open lower ahead of Fed's rate decision on WednesdayUS stock market indexes (^DJI, ^IXIC, ^GSPC) open Tuesday's session lower as equities are listening closely to the Federal Reserve's interest rate decision...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Wednesday’s Insider Report: Company leaders are buying these three high-yielding dividend stocksA look at recent notable transactions
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Market movers: Stocks seeing action on WednesdayA survey of North American equities heading in both directions
La source: globeandmail - 🏆 5. / 92 Lire la suite »