Posted 3/1/2024, 6:11:12 AM
Global Stocks Buoyant as US Inflation Matches Forecasts, Boosting Rate Cut Hopes
- Asian and European stocks advanced after US stocks hit records on in-line inflation data
- Japan's Nikkei index rose to an all-time high as investors welcomed the US inflation data
- The Fed's preferred inflation metric matched forecasts, supporting hopes for rate cuts this year
- China's factory activity contracted for the 5th straight month though services expanded
- US oil demand hit a 4-year high in 2023 and is expected to hold near that level this year