- Reuters
Stocks drift on uncertainty over timing of US rate cuts
SINGAPORE (Reuters) -Asian stocks slipped on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing. Data on Wednesday showed cooling U.S. consumer price inflation, prompting markets to swiftly price in at least two rate cuts this year but the excitement soon fizzled out as the latest report showed the labour market remains tight, while central bankers were still cautious about inflation. Traders are pricing in about 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in.
- CNN Business
China has teased how it might fix its property crisis. Markets are loving it
Chinese stocks surged on Thursday after officials in a major city announced plans to buy unsold homes in what some analysts believe could be a trial run for a much bigger solution to the country’s property crisis.
- Reuters
Stocks hit record highs, yields fall; US CPI raises rate cut hopes
NEW YORK (Reuters) -Global stock markets rose to record highs while U.S. Treasury yields and the U.S. dollar fell on Wednesday as data showed U.S. consumer prices rose less than expected in April, suggesting inflation has resumed a downward trend in the second quarter. The CPI report raised expectations that the Federal Reserve will cut interest rates two times this year. The Dow and S&P 500 registered record closing highs for the first time since March 28 and the Nasdaq posted a record closing high for the second session in a row, while the MSCI world stock index was also set for a second straight record high close.
