Stocks edge up, dollar down as PPI, Powell comments digested

NEW YORK, May 14 - Global stock indexes were slightly higher and the U.S. dollar index was lower on Tuesday as investors digested stronger-than-expected U.S. producer prices data and also comments from Federal Reserve Chair Jerome Powell on inflation.

Higher than anticipated consumer prices in the first quarter of the year raised concerns that the Fed will be unable to cut rates this year unless there is a significant uptick in the unemployment rate. MSCI's gauge of stocks across the globe , opens new tab rose 1.65 points, or 0.21%, to 784.48, and the STOXX 600 , opens new tab index rose 0.15%.The dollar index , a measure of the U.S. currency against six major peers, was down 0.12% at 105.06, while the euro rose 0.22% against the dollar to 1.0813.Japanese bonds were squeezed as the central bank pulled back a little on its bond buying program.

U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products.

Business Business Latest News, Business Business Headlines

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

Stock market today: Stocks rally after Fed decision as Powell soothes rate nervesFed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Markets today: U.S. stocks and bonds climb as Powell downplays hikesStocks joined gains in bonds after the Federal Reserve decision was not as hawkish as feared by Wall Street, with Jerome Powell saying it’s unlikely the next move will be a rate hike.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Stocks end mixed in volatile session after Fed decision, Powell commentsFed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks rise after Fed rate decision, Powell press conferenceThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »