U.S. stocks rebound with consumer prices in focus
BNN Bloomberg
U.S. equities rose along with European stocks Thursday as investors assessed the prospects of higher inflation spurring tighter monetary policy.
U.S. equities rose along with European stocks Thursday as investors assessed the prospects of higher inflation spurring tighter monetary policy.
The S&P 500 rose 0.4 per cent after the gauge’s worst slump in more than a month on Wednesday following higher-than-expected consumer price data. Tesla Inc. rose after filings showed Chief Executive Officer Elon Musk unloaded US$5 billion of stock. Walt Disney Co. slid and Beyond Meat Inc. plunged after disappointing quarterly figures.
The Stoxx Europe 600 Index was higher, while in Asia, Chinese equities rallied on speculation of government measures to ease the cash crunch at struggling property developers.
The U.S. cash Treasury market is closed Thursday for a holiday. Trading conditions in Treasuries are the roughest since March 2020, based on Bloomberg’s liquidity gauge for the debt.
Investors are bracing for tighter monetary policy sooner rather than later, after Wednesday’s inflation data dealt a blow to the argument that inflation is transitory.