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

US Stocks Surge on Inflation Data, while Robinhood Markets Reaps Rewards

Investors were focused on the upcoming inflation data in the US on Wednesday, which led to a surge in US stocks. Specifically, they were interested in the core personal consumption expenditure (PCE) price index data for February, which could give 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%.

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. However, 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 only 0.9%.

The Japanese yen hit a record low against the US dollar at $113 per yen, while Brent crude futures for May dropped by 0.7% to $85 per barrel

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