• Sat. Apr 20th, 2024

Today’s Global Markets: American Stock Market Soars in Anticipation of Inflation Data

BySamantha Johnson

Mar 27, 2024
Today’s Global Markets: American Stock Market Soars in Anticipation of Inflation Data

On Wednesday, US stocks saw a surge in anticipation of the upcoming release of inflation data. Investors are particularly interested in the US core personal consumption expenditure (PCE) price index data for February, as it could provide insights into when the Federal Reserve might begin cutting interest rates.

As of 9:40 a.m. Eastern time, the Dow Jones Industrial Average was up by 307 points, or 0.8%, the S&P 500 had risen by 0.6%, and the Nasdaq composite was up by 0.3%. Shares of Trump Media & Technology Group saw an 18.6% jump, while Merck climbed 4.9% following the federal approval of its Winrevair treatment for adults with pulmonary arterial hypertension.

Additionally, Robinhood Markets surged 3.5% after revealing its first credit card. The 10-year Treasury yield slightly decreased to 4.22% from 4.23% on Tuesday. In European markets, most stock indexes saw gains, with Britain’s FTSE 100 falling slightly by 0.2%, France’s CAC 40 rising by 0.4%, and Germany’s DAX edging up by 0.6%.

In Asian markets, Hong Kong’s Hang Seng Index declined by 1.4%, China’s Shanghai Composite fell by 1.3%, and Japan’s Nikkei 225 rose by 0.9%. The Japanese yen reached its weakest level in about 34 years against the US dollar, dipping to 151.97 early on Wednesday in Tokyo.

Brent crude futures for May dropped by 0.7% to $85.66 a barrel, with the May contract set to expire on Thursday. The more actively traded June contract decreased by 0.6% to $85.13. Gold prices, on the other hand, saw a slight increase on Wednesday, with spot gold up by 0.3% at $2,185.89 per ounce and US gold futures rising by 0.4% to $2,184.80.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

Leave a Reply