HONG KONG — Asia stocks were mostly higher on Tuesday, with investors mainly focusing on a U.S. inflation report and what it means for interest rate cuts by the Federal Reserve.Japan’s benchmark Nikkei 225 gained 1.1% in morning trading to 39,773.13. The yen languished as the U.S. dollar edged up to 151.88 Japanese yen, coming close to a 34-year high of 151.97 yen which it hit in late March.
The S&P 500 edged down less than 0.1% to 5,202.39. The Dow Jones Industrial Average tiptoed less than 0.1% lower to 38,892.80, while the Nasdaq composite inched 5 points higher to 16,253.96.This week has several flashpoints that could further swing expectations. Apart from Wednesday's report on the inflation that U.S. consumers are feeling at cash registers, there will be reports on inflation at the wholesale level and on expectations for future inflation among U.S. households.
Benchmark U.S. crude added 10 cents to $86.53 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standards, was 17 cents higher to $90.55 a barrel.Former president Donald Trump's meme stock is in deep, deep trouble. Shares of Trump Media & Technology Group are getting absolutely hammered this morning, sliding a further ten percent today alone.
Trump Media CEO Devin Nunes says Truth Social parent company is ‘well positioned’ in response to criticism over profitability
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