Today’s Global Markets: American Stock Market Soars in Anticipation of Inflation Data

On Wednesday, US stocks surged in anticipation of the upcoming release of inflation data. Investors are particularly interested in the US core personal consumption expenditure (PCE) price index data for February, as it could provide insights into when the Federal Reserve might begin cutting interest rates.

By 9:40 a.m. Eastern time, the Dow Jones Industrial Average had risen by 307 points, or 0.8%, while the S&P 500 had increased by 0.6% and the Nasdaq composite had gone up by 0.3%. Shares of Trump Media & Technology Group saw an impressive 18.6% jump, while Merck climbed 4.9% following the federal approval of its Winrevair treatment for adults with pulmonary arterial hypertension.

In addition to this news, Robinhood Markets surged by 3.5% after revealing its first credit card, adding to investors’ optimism on Wednesday morning. The yield on the 10-year Treasury bond decreased slightly from Tuesday’s high to 4.22%. In European markets, most stock indexes saw gains, with Britain’s FTSE 100 falling just slightly by 0.2%, France’s CAC 40 rising by about half that percentage (or 0.4%), and Germany’s DAX edging up by only a little over half a percent (or about 1%).

Meanwhile, Asian markets saw mixed results on Wednesday afternoon as Hong Kong’s Hang Seng Index declined by about half a percent (or -1%), China’s Shanghai Composite fell by about one-third (or -1/3), and Japan’s Nikkei went up just over half a percent (or +1/2). The Japanese yen reached its weakest level in nearly three decades against the US dollar early on Wednesday in Tokyo, dipping down to $151.97 at one point before recovering somewhat later in the day to around $152 at close of business hours

By Samantha Johnson

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