Stocks ease, dollar edges higher as market awaits CPI data

NEW YORK/LONDON, May 8 - A gauge of global equity performance faltered on Wednesday as investors await new inflation data to assess the course of potential Federal Reserve interest rate cuts, while the dollar edged higher on expectations of U.S. economic out-performance.

The main concern among traders and investors is whether inflation is on course to reach the U.S. central bank's 2% target and when Fed Chair Jerome Powell might cut rates. "The takeaway from last week was that Powell was not quite as hawkish as many investors were setting him up to be." But stocks have rallied in May, partly encouraged by last week's nonfarm payrolls, which showed a cooling in the hot U.S. labor market but remained stronger than pre-pandemic data.

In currency markets, the yen dropped 0.56% to 155.54 per dollar even after Bank of Japan governor Kazuo Ueda said the central bank may take monetary policy action if currency falls affect prices significantly. U.S. Treasury yields have fallen in recent days as traders have moved to price back in two rate cuts from the Fed this year, having seen one as most likely in the middle of April. The 10-year yield, which moves inversely to its price, was 1.8 basis points higher at 4.48%.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto rally resumes, stocks trade flat ahead of pivotal CPI readingThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Markets today: Stocks fall with bonds as U.S. CPI curbs Fed-pivot betsStock futures joined losses in bonds as hotter-than-estimated inflation data bolstered speculation the U.S. Federal Reserve will be in no rush to cut interest rates.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Trading Game Plan: CPI hits, INTC attacks NVDA, Fitch vs China, stocks, crypto, goldThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Markets today: Stocks sink as U.S. CPI shuts door on Fed June pivotWall Street traders sent stocks and bonds sliding after another hotter-than-estimated inflation report signaled the U.S. Federal Reserve will be in no rush to cut interest rates this year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Cryptos bounce, stocks tumble as hot CPI roils markets, dashes rate cut hopespKitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Asian Stocks to Be Sold on CPI, Traders Wary of Yen InterventionAsian stocks are likely to be under pressure after Wednesday’s faster-than-expected US inflation data, while currency traders will be on watch for possible yen intervention, according to analysts and strategists
Source: BNNBloomberg - 🏆 83. / 50 Read more »