On Wednesday, anticipation for the upcoming release of inflation data surged US stocks, as investors eagerly awaited the US core personal consumption expenditure (PCE) price index data for February. This information could provide valuable insights into when the Federal Reserve might begin cutting interest rates.
By 9:40 a.m. Eastern time, the Dow Jones Industrial Average had jumped by 307 points, or 0.8%, while the S&P 500 had risen by 0.6% and the Nasdaq composite had climbed by 0.3%. Shares of Trump Media & Technology Group saw an impressive 18.6% rise, while Merck climbed 4.9% following the federal approval of its Winrevair treatment for adults with pulmonary arterial hypertension. Additionally, Robinhood Markets surged 3.5% after revealing its first credit card, further contributing to overall market growth on Wednesday morning.
As for fixed income markets, the 10-year Treasury yield slightly decreased to 4.22% from 4.23% on Tuesday, indicating that bond prices were firming up in anticipation of inflation data being released later in the week. In European markets, stock indexes saw gains across the board; however, Britain’s FTSE 100 fell slightly by just over 0%, while France’s CAC
