“`html
Global Markets Steady Near Records, Awaiting Key Inflation Data
Table of Contents
Published: February 29, 2024
Global stock markets are holding steady near record highs as investors brace for a flurry of economic data releases this week.
Stocks are remarkably calm, continuing their record run as traders cautiously await key economic indicators. The prevailing sentiment suggests a willingness to “carry on” with the bullish trend, but a watchful eye is being kept on potential headwinds.The U.S. dollar is slightly weaker, providing a small boost to commodities, while oil prices are experiencing volatility due to ongoing concerns surrounding OPEC+ supply and geopolitical risks.
- global stocks are maintaining a calm demeanor despite reaching record levels.
- Investors are keenly awaiting crucial economic data releases this week, including inflation figures.
- The U.S. dollar is experiencing a slight dip, offering some support to commodities.
- Oil prices are fluctuating amid concerns about OPEC+ supply and geopolitical tensions.
Inflation Data Takes Center Stage
All eyes are on the upcoming inflation data, notably the Personal Consumption Expenditures (PCE) price index, scheduled for release on Friday. This report is considered a crucial gauge for the Federal Reserve as it contemplates future interest rate decisions. A hotter-than-expected reading could dampen hopes for early rate cuts, potentially triggering a market correction.
Asian Markets Show Resilience
Asian markets demonstrated resilience on Thursday, with MSCI’s broadest index of Asia-Pacific shares rising 0.6%. Japan’s Nikkei 225 climbed 0.9%, while Chinese blue chips edged up 0.2%. Though, South Korea’s Kospi bucked the trend, falling 0.4% as the won weakened.
European equities Maintain Momentum
European equities are also maintaining positive momentum, with the STOXX 600 index hovering near record levels. The Eurozone’s inflation rate remains a key concern, but recent data suggests it is gradually easing.
