Key facts
- Global stocks edged higher.
- The euro edged higher.
- Softer U.S. inflation data was released.
- Expectations of the Federal Reserve holding interest rates steady were reinforced.
- Upbeat earnings from AI infrastructure firms supported technology stocks.
- Oil prices dipped below $90.
- Concerns over demand and inventory gains contributed to the oil price dip.
Global stock markets and the euro experienced an upward trend, driven by softer-than-anticipated U.S. inflation data. This economic indicator reinforced market expectations that the Federal Reserve will likely keep its interest rates unchanged. The technology sector received additional support from strong earnings announcements by companies specializing in artificial intelligence infrastructure. Concurrently, oil prices fell below the $90 per barrel mark. This decline is attributed to concerns regarding global demand for oil and recent increases in inventory levels.