Reported 9 months ago
Global stock indexes edged lower as investors absorbed U.S. inflation data showing flat numbers in May, in line with expectations. The early rally in stocks faded amidst uncertainty around the U.S. presidential elections and French legislative elections, with the Fed's preferred inflation measure indicating 2.6% growth in prices. While some investors are optimistic about a possible interest rate cut by the Federal Reserve in September, stock indexes hit record highs before retreating. Trump Media & Technology Group shares rose early before dipping, and the yen's slide to a 38-year low prompted expectations of Japanese authorities intervening. The euro strengthened in anticipation of France's elections, with worries about the French parliamentary elections' outcome widening the risk premium on French government bonds over German bonds.
Source: YAHOO