Global markets update: US stocks end flat after inflation dataPersonal FinanceGlobal markets update: US stocks end flat after inflation data

Global markets update: US stocks end flat after inflation data


US stocks ended flat on Thursday following the July inflation data. 

The S&P 500 added 1.34 points, or 0.03%, at 4,469.05 points. The Nasdaq Composite gained 16.39 points, or 0.12%, at 13,739.06.  The Dow Jones Industrial Average edged up 50.28 points, or 0.15%, at 35,173.64.

The headline and core consumer prices both rose by 0.2% in July. 

The consumer price index (CPI) rose to 3.2% and the core inflation surged to 4.7%.

The modest increase in the US inflation fuelled hopes that the Federal Reserve was close to the end of its interest rate hikes.

Shares of The Walt Disney Co. climbed 4.9% after it said would raise prices for some of its streaming services to boost revenues.

Capri Holdings, which owns the Michael Kors, Versace and Jimmy Choo brands, soared 55.7% as Big Fashion continues to consolidate.

The yield on the 10-year treasury rose to 4.09% from 4.01% late Wednesday. The 2-year treasury yield gained to 4.81% from 4.80%.

Currencies

The US dollar rose to 144.72 Japanese yen from 143.70. The euro rose to $1.0990 from $1.0976. 

Europe

European stocks rose on Thursday after a modest rise in US consumer prices.

The pan-European STOXX 600 added 0.8%. Britain’s FTSE 100 rose 0.4% at 7,618.60 points.

Germany’s DAX added 0.9% at 15,996.52. France’s CAC 40 gained 1.5% at 7,433.62.

Real estate shares gained 1.6%.

Among the sectoral gainers, the personal and household goods index, rose 2.2% after China eased travel restrictions.

Shares of French luxury group LVMH gained 3.4%.

Germany’s Allianz climbed 4.9% after it reported strong profit.

Asia 

In Asia, Hong Kong’s Hang Seng index ended flat at 19,248.26. China’s Shanghai Composite rose 0.3% at 3,254.56.

Japan’s Nikkei 225 added 0.8% at 32,473.65.

Australia’s S&P/ASX 200 index rose 0.3% at 7357.4 points. New Zealand’s benchmark S&P/NZX 50 index fell 0.2% at 11,811.77 points.

Energy prices

Brent crude for October delivery fell $1.15 at $86.40 a barrel on Thursday.  The US crude oil benchmark for September delivery fell $1.58 at $82.82 a barrel.

Natural gas for September delivery fell 20 cents at $2.76 per 1,000 cubic feet.

Bullion 

Gold for December delivery fell $1.70 at $1,948.90 an ounce. Silver for September delivery rose 9 cents at $22.82 an ounce. 

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Updated: 11 Aug 2023, 02:33 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




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