Equity traders are squaring up their positions ahead of the release of the minutes from the latest Federal Reserve meeting.
European stock markets closed higher on the session even though Gazprom cautioned that gas prices could jump an additional 60%.
Fears the US economy might be heading for an actual recession have resurfaced because of the brutal New York Fed manufacturing index report.
The fall in US producer price index (PPI) triggered a fresh round of buying on Wall Street and the S&P 500 has set a new three month high.
Equity traders pounced on the weaker-than-expected US CPI data as the Federal Reserve might not be as hawkish as initially feared.
It has been a quiet day in terms of news flows as it seems that traders are looking ahead to tomorrow’s US CPI numbers.
Stock markets in the US are up as the dip in bond yields have paved the way for the bulls to take centre stage.
The strong US jobs report renewed fears about further large interest rate hikes from the Federal Reserve, which is why equity markets are lower.
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