FOREXLIVEThe US CPI data for the month of May came in softer than expected with the quarter CPI Ed 0.2% versus 0.3%. The headline CPI feminine 0.0% versus 0.1%.. The YoY for core was at 3.4% (the lowest level since April 2021). The headline came in at 3.3% vs 3.4% estimate (unchanged)
The market is now pricing in 50 basis points of rate cuts between now and the end of the year.
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European stocks closed lower on Thursday on concerns the Federal Reserve might not reduce interest rates more than one time this year despite soft consumer price and producer price inflation data.
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John Wiley & Sons, Inc. (WLY) reported Thursday net income for the first quarter of $25.27 million or $0.46 per share, sharply lower than $68.34 million or $1.22 per share in the prior-year quarter.
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Asian stocks rose broadly on Thursday as soft U.S. inflation data helped keep the door open for a Federal Reserve rate cut in September.
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While announcing its widely expected decision to leave interest rates unchanged on Wednesday, the Federal Reserve also revealed officials now expect only one interest rate cut this year. In support of its goals of
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Asian stocks drifted lower on Wednesday as investors awaited key U.S. inflation data as well as a Federal Reserve policy decision later in the day for additional clues on the outlook for interest rates.
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