As traders await a key reading on American inflation, US equities futures rose on Wednesday and treasury rates remained unchanged. Gains in Nasdaq 100 contracts outpaced those in the S&P 500, which were both marginally higher.
Hours before the publication of the US consumer price index, markets fell into a wait-and-see mode, anticipating the data to show price pressures accelerated in December to 7.1%, the highest level in four decades.
With three to four Fed rate hikes already factored in, analysts are becoming more optimistic about inflation and focused on positives like the start of earnings season. At the start of the year, markets were roiled by speculation of quicker interest rate hikes to relieve pricing pressures.
- China's cabinet claims that by 2025, the key industries of the digital economy will account for 10% of the country's GDP.
- BoJ's Governor Kuroda: Japan's economy is expected to recover quickly as the effects of the coronavirus fade.