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.

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