Most global stock-markets rebounded strongly last week from losses the previous week – certainly in Europe and especially in the US after the release of improving inflation data and better-than-expected earnings reports from major US companies.
US CPI data came in at 3%, its lowest level since March 2021 and slightly better than expectations. This reduces pressure on the Fed to keep hiking although the market is still pricing in 90% odds that the central bank will hike again later this month. Even so, looking further out the market now sees less chance of further hikes. More evidence of lower inflation came from US Producer Prices data which showed a 0.1% increase – the lowest in nearly three years.
Full report
https://realmim.com/inflation-data-leads-markets-higher/
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