Market Signal

Global Markets Rally as Soft U.S. Wholesale Inflation and Falling Oil Prices Lift Sentiment

Sourced from 4 publications

  • •U.S. stocks rose Thursday on a combination of declining oil prices and a softer-than-expected wholesale inflation report, according to Xinhua.
  • •Wholesale price inflation slowed as gas prices reversed some of their Iran-related spike and food costs also fell, per PBS NewsHour.
  • •The data reduced the odds of a Federal Reserve rate hike in September, reinforcing expectations of continued monetary restraint.
  • •The U.S. dollar weakened in late trading following the economic releases.
  • •Asian markets followed the rally, with Korea's KOSPI opening more than 2% higher on eased U.S. inflation concerns.

Sources

U.S. dollar ticks down

Thestar

U.S. stocks close higher on soft producer prices

Thestar

Asia stocks set for gain on fading US rate hike wagers

Thewest

[Opening Market] KOSPI Opens Up More Than 2%, Touching 7,000

Businesskorea

Wholesale price inflation slows last month as gas and food costs fall

PBS NewsHour

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Curated from 4 sources. Every summary is reviewed for accuracy, but may still contain errors. We always link to original sources for verification.

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