STOCKS INCH UP AS TIMING OF US RATE CUTS WEIGHED
World stock indexes edged higher and U.S. Treasury yields also rose on Friday as investors tried to assess the timing of potential interest rate cuts by the Federal Reserve this year. Major U.S. stock indexes were slightly higher and on track for gains for the week.
Copper surged to a 26-month peak after China announced fresh support for its ailing property sector, while nickel prices touched their highest level since August 2023 amid unrest in nickel producer New Caledonia.
Data from earlier this week showing softening consumer prices in April boosted expectations that the U.S. central bank will be able to cut rates twice this year, beginning in September. Much depends, however, on what happens with price pressures in the coming months, and Fed officials have hinted U.S. rates may not fall anytime soon.
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