By Global markets are reacting to a mix of economic data and geopolitical developments, with U.S. inflation figures taking center stage. Higher-than-expected inflation has raised concerns about delayed Federal Reserve rate cuts, pushing the U.S. dollar to a one-week high against the Japanese yen.
The S&P 500 closed lower on Wednesday, reflecting investor anxiety over prolonged high interest rates. However, CVS Health and Gilead Sciences bucked the trend with gains following strong quarterly results. U.S. stock futures showed modest gains on Thursday, offering a glimmer of hope after Wednesday’s decline.
In Asia, Indian markets showed resilience, with the Nifty recovering 250 points from its intraday low. Prime Minister Modi’s diplomatic visit to the U.S. is being closely watched for potential strategic outcomes. Meanwhile, Australian markets opened slightly higher, and futures for Japanese and Hong Kong indices rose.
The euro found support from news of potential U.S.-Russia peace talks regarding Ukraine, while gold prices edged higher as investors monitored trade tensions and awaited further inflation data.