Treasuries and Stocks See Mixed Movement as Gold Hits Record High on Inflation Data, Solid Economy Fuels Tech Earnings Optimism
• Treasuries edged higher in Asian trading Friday while equities were mixed after a tech stock rally drove a rebound in US stocks • Gold surged to a fresh record high Thursday following higher-than-expected US inflation data • A solid US economy is expected to fuel a rise in corporate profit growth, with Big Tech earnings a key driver • Fewer prospects of Fed rate cuts after comments from Fed presidents and resilient producer price data • Oil edged higher Friday after declining due to a buildup in US stockpiles outweighing geopolitical tensions involving Iran