NEW YORK, LONDON, Jan 11 — Wall Street’s major stock averages closed higher yesterday, steadying in the afternoon after early volatility while Treasury yields rose as investors waited anxiously for US inflation data due later in the week.
“Generally the markets are waiting for this Thursday’s CPI print coming out for December. It will probably be the biggest data point for the week and certainly give us some clarity around the direction of inflation,” said Mona Mahajan senior investment strategist at Edward Jones. The pan-European STOXX 600 index lost 0.59 per cent and MSCI’s gauge of stocks across the globe gained 0.30 per cent while emerging market stocks rose 0.05 per cent.
However, with consumer price increases still well above the central bank’s target of 2 per cent, two Fed officials on Monday had issued a stark reminder that interest rates will have to keep rising, no matter what investors have priced in.
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