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Core PCE price index increased 2.9% in December from a year earlier, cooling to an almost three-year low even with robust holiday spending.
US stocks ended Tuesday nearly flat as the earnings season winds down. Equities surged recently, mainly driven by enthusiasm for AI stocks.
Japan's Nikkei 225 index rose on Tuesday, extending gains from the previous session as China's winning streak ended. Nikkei is up about 17% this year.
Asian oil prices dropped Monday, continuing losses from the prior session, with a weekly decline of 2-3% due to fading rate cuts.
Asian investors enter Friday's trading buoyed by a global market surge. Yet, caution is warranted with Treasury yields up and the dollar resilient.
Despite Japanese officials' concerns over the yen's rapid decline, it traded below 150 per dollar on Thursday, marking a 6% drop this year.
Gold prices surged to a week-high on Wednesday amid a weak dollar. China's rate cuts to support the economy dampen demand for safe-haven assets.
Asian oil prices held steady Tuesday, near three-week highs, amid rising Middle East tensions and rebounding Chinese demand.
On Monday, the yen hovered around the crucial 150 per dollar mark in light trading due to the President's Day holiday closing US markets.
India's BSE Sensex and NSE Nifty surged after the interim budget. Goldman Sachs predicts Nifty hitting 23,500 by the end of 2024.
Gold stagnates post-failure to break an all-time high in December. The US economy and inflation trump China's property concerns and wars.
US equities has enjoyed a bright start in 2024, a sign that it may head for another yearly gain. However, better opportunities seem to exist elsewhere.
Oil prices rose as tensions escalated in the Middle East after Israel rejected a ceasefire offer from Hamas, setting the stage for weekly gains.
Despite rosy earnings, Wall Street warns of a potential tech bubble in the stock market. Stay informed on the latest news and trends in the market.
USD to EUR volatility stabilizes, and the market closely watches US CPI data. A Reuters survey indicates potential USD strength, yet the EUR maintains upward momentum. EUR to USD sees some rebound, but technical pressure warrants attention.
