Stock markets rally on renewed US rate cut hopes
==========
Equity markets rallied on Monday as a dip in inflation revived hopes the Federal Reserve will cut interest rates this year. The personal consumption expenditures (PCE) index slowed month-on-month to its lowest level since December, providing a boost to investors' sentiment. The report also showed no change from March on a year-over-year basis. Attention now turns to the Friday release of US jobs data, which will provide the latest snapshot of the world's top economy. Asian investors started the week in a buoyant mood, pushing Hong Kong solidly higher. Mumbai piled on more than three percent and the rupee advanced as exit polls suggested India's Prime Minister Narendra Modi was on course to win a third successive term. London, Paris, and Frankfurt were all in positive territory. Bets on US interest rates coming down weighed on the dollar against the yen. Oil prices fluctuated after OPEC and other major producers said they would maintain output levels but start unwinding cuts later in the year.
#StockMarkets #UsRateCut #Inflation #FederalReserve #PceIndex #UsJobsData #AsianInvestors #NarendraModi #Dollar #Yen #OilPrices #Opec
https://www.macaubusiness.com/stock-markets-rally-on-renewed-us-rate-cut-hopes/
Macau Business /
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2024-06-03 17:22:49
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wss://relay.damus.ioPublished at
2024-06-03 17:22:49Event JSON
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"content": "Stock markets rally on renewed US rate cut hopes\n==========\n\nEquity markets rallied on Monday as a dip in inflation revived hopes the Federal Reserve will cut interest rates this year. The personal consumption expenditures (PCE) index slowed month-on-month to its lowest level since December, providing a boost to investors' sentiment. The report also showed no change from March on a year-over-year basis. Attention now turns to the Friday release of US jobs data, which will provide the latest snapshot of the world's top economy. Asian investors started the week in a buoyant mood, pushing Hong Kong solidly higher. Mumbai piled on more than three percent and the rupee advanced as exit polls suggested India's Prime Minister Narendra Modi was on course to win a third successive term. London, Paris, and Frankfurt were all in positive territory. Bets on US interest rates coming down weighed on the dollar against the yen. Oil prices fluctuated after OPEC and other major producers said they would maintain output levels but start unwinding cuts later in the year.\n\n#StockMarkets #UsRateCut #Inflation #FederalReserve #PceIndex #UsJobsData #AsianInvestors #NarendraModi #Dollar #Yen #OilPrices #Opec\n\nhttps://www.macaubusiness.com/stock-markets-rally-on-renewed-us-rate-cut-hopes/",
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