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Stock market today: World shares mixed after US inflation data ease rate hike worries

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Shares have opened mixed in Europe after a day of gains in Asia following a highly anticipated report that showed a modest increase in inflation across the U.S. in August.

Specialist Gregg Maloney is reflected in a video screen on the floor of the New York Stock Exchange, Wednesday, Sept. 13, 2023. Stocks are churning in place on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected.

Hong Kong's Hang Seng index rebounded from earlier losses to pick up 0.2%, closing at 18,047.92. However, major Chinese real estate developer Country Garden's Hong Kong-traded shares sank 4.6% ahead of a deadline for a bond repayment. The inflation report said U.S. consumers paid prices last month that were 3.7% higher than a year earlier, up from July’s inflation rate of 3.2% and slightly more than the forecasts for a 3.6% increase.

Even though economists are willing to ignore fuel costs when looking at inflation to find the underlying trends, households and companies don’t get the same luxury.

 

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