Premarket: Stocks idle ahead of Fed’s preferred inflation figure

Global shares were little changed on Friday in subdued trading as investors hunkered down for key U.S inflation figures that will shape the Federal Reserve’s thinking on interest rates when it meets mid-June.Oil was slightly weaker after Fed officials said it was too soon to start considering rate cuts, and following a surprise build in U.S. gasoline stocks.

Britain’s FTSE 100 advanced 0.35 per cent, Germany’s DAX was up 0.04 per cent and France’s CAC 40 added 0.05 per cent. There will get a fresh read on inflation’s progress at 9:30 a.m. ET with the Commerce Department’s publication of the monthly U.S. personal consumption expenditures price index, widely viewed as the Fed’s preferred inflation gauge.

Ellis said expectation that the ECB will move before the Fed in cutting rates, the opposite to what has historically happened, is largely priced into markets. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.5 per cent. The index was set for a gain of about 2.7 per cent in May, rising for the fourth straight month.

Traders are also looking over their shoulders for any hints of intervention from the Tokyo authorities as the Japanese yen flirts with levels that led to suspected bouts of intervention late in April and early this month.

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.

Premarket: Global stocks slide ahead of U.S. Fed minutes while crypto soarsGold eased back from Monday’s all-time peak, while crude oil declined on worries of U.S. interest rates staying high for longer
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Stocks at record high ahead of U.S. inflation data; meme mania heats upShares in AMC and GameStop soar more than 25 per cent in premarket trading
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks little changed ahead of U.S. inflation dataBenchmarks in Europe, Wall Street futures were steady
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks and Japanese yen steady ahead of U.S. payrollsCrude benchmarks headed for steepest weekly losses in three months on demand uncertainty and easing tensions in the Middle East
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Stocks, bonds steady after rate angst selloffThe latest slowdown in the global risk rally has come on the back of data pointing to lingering inflationary pressures and a flood of bond sales lifting yields
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global stocks wilt after U.S. bond yield jump as rate cut doubts resurfaceU.S. yields climbed after consumer confidence data came in stronger than expected and Fed’s Neel Kashkari said further rate hikes were still a possibility
Source: globeandmail - 🏆 5. / 92 Read more »