Bitcoin climbed back above $100,000 on Wednesday, rising on fresh inflation data that lifted stocks and regulatory news seen as bullish for cryptocurrency.
Cooling Inflation Data Send Stock, Bond ETFs Higher
SPY and TLT both gained nearly 2% Wednesday after the Labor Dept. reported that consumer prices grew slower than expected in December.
Morning Bid: Global inflation relief lifts bond yield gloom
At last, some breathing room for investors after U.S. and UK inflation figures on Wednesday eased the vice-like grip that the soaring dollar and global bond yields had increasingly been exerting over markets. It is too early to say this marks a turning point, but fixed income and emerging markets have been beaten down so much lately that they were primed for a 'good news' reversal. But it's the UK and especially the U.S. inflation news that will drive markets more, and the rapid slide in bond yields and jump in stocks should pave the way for a positive day in Asia on Thursday.
Wall St surges as inflation data, bank earnings fuel rally
U.S. stocks surged on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major U.S. banks fueled a rally. The Labor Department said the consumer price index (CPI) increased the most in nine months as energy costs rose, although a measure of underlying inflation pressures subsided. Data on Tuesday showed the producer price index (PPI) rose less than expected.
Dow, S&P 500, Nasdaq post best day since Nov. 6 on cooling inflation and bank earnings
US stocks jumped on Wednesday after consumer price data showed inflation continues to slow. Strong bank earnings also helped lift sentiment.
Strength, then oversupply? Parsing the latest EIA oil forecast
Oil prices are expected to gradually soften on loose supply. The post Strength, then oversupply? Parsing the latest EIA oil forecast appeared first on FreightWaves.
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