Home » U.S. stocks, Treasuries rise after inflation report
Stocks and Treasuries advanced on Tuesday after a report showed core inflation increased less than forecast in March.
The S&P 500 halted a two-day drop, while the Nasdaq 100 outperformed major benchmarks. Treasury 10-year yields fell after earlier touching the highest level since December 2018. Oil rose as a partial easing of virus restrictions in Shanghai brought some optimism over demand.
U.S. consumer prices climbed in March by the most since late 1981, bolstering expectations that the Federal Reserve will raise interest rates by half a point next month. Excluding volatile food and energy components, so-called core prices increased 0.3 per cent from a month earlier and 6.5 per cent from a year ago, both less than projected and due in large part to the biggest drop in used vehicle prices since 1969.
“To be clear, a recession is not our base case and our positioning does not reflect anticipation of one,” said Solita Marcelli, chief investment officer Americas at UBS…
You can Read this Complete Story at: Source Link
Dow Today, Dow Jones Today