Wall Street’s main indices inched up on Tuesday as investors assessed a mixed producer prices reading and awaited crucial consumer prices data tomorrow. Photograph: Spencer Platt/Getty Images
Earlier on Tuesday, data showed US producer prices rose more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained elevated early in the second quarter. The personal goods sector climbed 2 per cent to lead gains on the index, while medical equipment and services followed with a 1.1 per cent rise. Meanwhile, data showed that British wages grew more than expected recently but other figures suggested the labour market was losing some of its inflationary heat, pushing money market participants to remain split on June rate cut bets.tumbled 3.
Sticky inflation and persistent labour market strength have prompted financial markets and most economists to push back expectations for an initial Fed interest rate cut to September, from March seen at the start of the year.I visited Singapore to see why it is ranked as the top education system in the world. Here’s what I learned
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