US stocks surge before release of inflation data in today’s world markets

Market Moves: US Stocks Surge, Robinhood Markets and Asian Equities Decline

On Wednesday, US stocks experienced a surge in anticipation of upcoming inflation data. Investors are particularly interested in the US core personal consumption expenditure (PCE) price index data for February, as it could provide insights into future interest rate cuts by the Federal Reserve. By 9:40 a.m. Eastern time, the Dow Jones Industrial Average had risen by 307 points (0.8%), the S&P 500 by 0.6%, and the Nasdaq composite by 0.3%. Additionally, shares of Trump Media & Technology Group saw an 18.6% increase, while Merck saw a 4.9% climb following federal approval of its Winrevair treatment.

Robinhood Markets also saw a 3.5% surge after introducing its first credit card. The yield on the 10-year Treasury slightly decreased to 4.22%, and European stock markets mostly showed positive movements as well. Conversely, Asian stock markets reported declines, with Hong Kong’s Hang Seng Index dropping by 1.4%, China’s Shanghai Composite shedding 1.3%, and Japan’s Nikkei 225 rising by 0.9%. The Japanese yen hit a 34-year low against the US dollar, and Brent crude futures for May dropped by 0.7% to $85.66 a barrel.

However, gold prices saw an increase on Wednesday, with spot gold up by 0


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