5 Hours Ago
Europe stocks close slightly lower
European stock markets closed slightly lower on Wednesday as investors reacted to hotter than expected U.S. inflation data.
The pan-European Stoxx 600 ended the session down 0.3%, with sectors and major bourses pointing in opposite directions.
— Sam Meredith
7 Hours Ago
US core inflation comes in hotter than expected
U.S. inflation posted its biggest monthly increase of the year in August, figures showed Wednesday, as the core consumer price index came in slightly hotter than expected.
Core CPI, which strips out food and energy and is closely monitored by the Federal Reserve, rose by 0.3% on the month and 4.3% on the year. Economists polled by Dow Jones signaled rises of 0.2% and 4.3%, respectively.
Headline CPI was up by 0.6% month-on-month, and up 3.7% from a year ago, versus estimates of 0.6% and 3.6%.
“Today’s uptick in CPI could slightly increase the likelihood of a November interest rate hike and potentially delay the timing of any rate cuts until deeper into 2024,” said Joe Tuckey, head of FX analysis at Argentex Group. “If the dollar cannot make further gains from this data, this may mark an interim top to the recent dollar rally.”
Markets expect the Fed to skip a rate hike this month, but put around a 40% probability on a hike in November, according to CME Group data.
— Jenni Reid
8 Hours Ago
European dealmaking remains cautious but private equity retains optimism, report says
Inflation, higher interest rates and economic…
