US, European stocks push higher as inflation eases

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NEW YORK: Wall Street rebounded Friday (Jul 28) and eurozone stocks edged higher on data showing easing inflation, while the yen yo-yoed after Japan's central bank tweaked its ultra-loose monetary policy. The Dow added 0.5 per cent, while the broader S&P 500 climbed 1.0 per cent and the tech-heavy Nasd

NEW YORK: Wall Street rebounded Friday and eurozone stocks edged higher on data showing easing inflation, while the yen yo-yoed after Japan's central bank tweaked its ultra-loose monetary policy.

Stock markets have enjoyed a broadly positive week on hopes the US Fed and other central banks were at or close to the end of more than a year of monetary tightening as inflation comes down.would be determined by data, which was welcomed by investors who saw recent indicators - pointing to an easing of price pressure and softening of the labor market - as giving it room to hold off more increases.

Frankfurt added 0.4 per cent, setting another record close, on slowing inflation despite data showing the German economy stagnated in the second quarter. But on Friday it said that while it would maintain that range, its upper and lower limits would be used as references, rather than being rigid. However, with prices picking up at home and the yen struggling, pressure has been growing on the bank to change tack.

 

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