FILE - A person looks at an electronic stock board at a securities firm in Tokyo, on May 27, 2024. Asian stocks were mixed on Tuesday, June 11, in a busy week with several top-tier reports on U.S. inflation due along with a policy meeting of the Federal Reserve. FILE - The New York Stock Exchange is shown on May 21, 2024, in New York. World stocks are mostly lower on Monday, June 10, 2024, after a U.S. jobs report released Friday was hotter than expected.
Hong Kong’s Hang Seng sank 1.1% to 18,165.21, and the Shanghai Composite lost 0.9% to 3,023.46 after reopening from a public holiday. Markets remained cautious ahead of a report on inflation in China due out Wednesday.On Monday, the S&P 500 rose 0.3% to 5,360.79, topping its all-time high set last week. The Nasdaq composite also set a record after rising 0.3% to 17,192.53, while the Dow Jones Industrial Average gained 0.2% to 38,868.04.
Treasury yields were mixed in the bond market ahead of reports later in the week that will show whether inflation improved last month at both the consumer and wholesale levels. The last time Fed officials released such projections, in March, they indicated the typical member foresaw roughly three cuts to interest rates in 2024. That projection will almost certainly fall this time around. Traders on Wall Street are largely betting on just one or two cuts to rates in 2024, according to data from CME Group.
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