NEW YORK/LONDON, Aug 13 - Stocks jumped and bond yields fell on Tuesday after data showed U.S. producer prices increased less than expected in July, reinforcing market expectations that cooling inflation will allow the Federal Reserve to cut interest rates soon.
Hopes that rate cuts are in the offing underpinned gains on Wall Street. The S&P 500 , rose 0.8%, the Dow Jones Industrial Average , added 0.5% and the Nasdaq Composite , climbed 1.2%. MSCI's gauge of stocks across the globe , jumped 0.9%. "While aftershocks might reveal vulnerabilities, we continue to view recent volatility as being an equivalent of a 'heart palpitation' not a 'cardiac arrest'," Viktor Shvets, head of global desk strategy at Macquarie Capital said in a note. The yen was flat at 147.2 per dollar, having touched a seven-month high of 141.675 on Monday last week, a far cry from the 38-year lows of 161.96 it was rooted to at the start of July.
Given the yen's recent rally, dollar-yen is now more in sync with its yield differential, according to Karsten Junius, chief economist at Bank J. Safra Sarasin. U.S. consumer price index data for July is due on Wednesday and expected to show month-on-month inflation ticked up to 0.2%. Retail sales data is scheduled for Thursday.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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