News Formal

London stocks hit record peak, dollar drops before US inflation

  • 📰 eNCA
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

The London stock market struck a record peak close to 8,000 points Tuesday on a wave of European optimism before vital US inflation data.

The dollar slid against main rivals on expectations that the rate of price rises has slowed in the world's biggest economy -- data that could ease the pace of more US interest rate rises.

"The tailwinds from another decent market performance in the US overnight have given the FTSE another boost, propelling it to a new record high and towards the psychologically important 8,000 barrier," Interactive Investor analyst Richard Hunter told AFP. That is still well above the Fed's target of two percent, and analysts said a higher read on the CPI could spark a hefty sell-off on markets, with traders already worried the United States could tip into recession.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

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

BUSINESS MAVERICK: Cartoon Tuesday with RicoShare to Facebook Facebook Share to Twitter Twitter Share to Email App Email App Share to WhatsApp WhatsApp Hide Gosh on quick glance I thought that was an Electricity Fairy😂
Source: dailymaverick - 🏆 3. / 84 Read more »