Stock market today (May 16, 2024): World shares are mixed after Wall St hits fresh records on hopes for rate cuts

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Share opened lower Thursday in Europe after most Asian benchmarks gained, tracking a Wall Street rally driven by hopes that inflation is heading back in the right direction. The optimism came from a report Wednesday showing U.S. consumers had to pay prices for gasoline, car insurance and everything else in April that were 3.

Share opened lower Thursday in Europe after most Asian benchmarks gained, tracking a Wall Street rally driven by hopes that had to pay prices for gasoline, car insurance and everything else in April that were 3.4% higher overall than a year earlier, less than March’s inflation rate of 3.5%.

In Asian trading, Tokyo’s Nikkei 225 index gained 1.4% to 38,920.26, even after the government reported that the Hong Kong’s Hang Seng index rose 1.6% to 19,376.53. The Shanghai Composite index edged 0.1% higher, to 3,122.40.

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