STOCKS FLAT, US YIELDS EDGE HIGHER AHEAD OF DATA
On Wednesday, a global stocks gauge showed little change, taking a breather after European and U.S. equities reached record highs in the previous session. Investors are now eagerly awaiting the release of the next round of data on inflation and consumer health. Despite a slightly hotter-than-expected reading on U.S. consumer inflation (CPI), stocks in Europe and the S&P 500 surged to record levels in the previous session. The S&P 500 received an additional boost from a significant rise in Oracle shares.
The inflation data did not significantly alter expectations that the Federal Reserve will implement a rate cut of at least 25 basis points at its June meeting, with the probability currently standing at 65.5%, according to CME's FedWatch Tool. Investors are now turning their attention to upcoming data releases, including the U.S. producer price index (PPI), consumer spending data, and labor market indicators, all scheduled for Thursday.
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