NEW YORK, New York - A slightly lower-than-expected CPI reading for February helped U.S. stocks to stabilize after some relentless losses in recent days due to the on-again, off-again, trade tariffs. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis last month, after rising 0.5 percent in January, the U.S. Bureau of Labor Statistics reported Wednesday. Over the last 12 months, the all items index increased 2.8 percent before seasonal adjustment, which was marginally lower than the 2.9 percent expected.
Tech stocks recovered the most Wednesday while the industrial indices largely stemmed losses.
Following are Wednesday's closing quotes for the major U.S. indices:
S&P 500:
The Standard and Poor's 500 index rose by 27.23 points, or 0.49 percent, closing at 5,599.30. This uptick was bolstered by a tame inflation report, suggesting a potential easing of price pressures.
Dow Jones Industrial Average:
The Dow Jones Industrial Average declined by 82.55 points, or 0.20 percent, ending at 41,350.93. The index faced pressure from investor concerns over President Donald Trump's tariff policies and the potential for a trade war, which have contributed to market unease.
NASDAQ Composite:
The NASDAQ Composite advanced by 212.35 points, or 1.22 percent, to close at 17,648.45. This gain was driven by strong performances in the technology sector, with companies like Nvidia and Tesla leading the rally.
Overall, U.S. markets responded positively to signs of cooling inflation; however, concerns regarding trade policies and their potential impact on economic growth continue to influence investor sentiment.
Global Forex Markets React to Economic Policies and Trade Tensions
The foreign exchange markets on Wednesday exhibited notable fluctuations, influenced again by recent U.S. economic policies and ongoing trade tensions.
Major Currency Pairs:
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EUR/USD (Euro/US Dollar): The euro weakened against the U.S. dollar, with the pair declining by 0.23 percent to 1.0892. This movement reflects concerns over potential U.S. economic slowdown and its impact on global markets.
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USD/JPY (US Dollar/Japanese Yen): The dollar appreciated against the yen, rising 0.37 percent to 148.31. This increase is attributed to investor shifts towards the dollar amid uncertainties in other major economies.
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USD/CAD (US Dollar/Canadian Dollar): The greenback depreciated against the Canadian dollar, with the pair falling 0.42 percent to 1.4373. This decline follows recent volatility stemming from U.S. tariff announcements and subsequent retractions affecting North American trade relations.
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GBP/USD (British Pound/US Dollar): Sterling strengthened against the dollar, advancing 0.20 percent to 1.2968. The pound's rise is linked to easing inflationary pressures in the U.S., which may influence future Federal Reserve monetary policies.
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USD/CHF (US Dollar/Swiss Franc): The dollar experienced a slight decrease against the Swiss franc, edging down 0.05 percent to 0.8819.
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AUD/USD (Australian Dollar/US Dollar): The Australian dollar gained 0.31 percent against its U.S. counterpart, reaching 0.6317. This uptick reflects a broader trend of dollar softness amid global economic uncertainties.
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NZD/USD (New Zealand Dollar/US Dollar): The New Zealand dollar rose 0.23 percent against the U.S. dollar, trading at 0.5728.
Overall, the forex market's movements on Wednesday highlight investor responses to evolving economic policies and trade dynamics, underscoring the importance of monitoring geopolitical developments and economic indicators.
Global Stock Markets Exhibit Mixed Performance Amid Trade Uncertainties
Global stock markets on Wednesday served up a mixed picture as investors navigated ongoing trade uncertainties and economic data releases.
Canada:
Canada's S&P/TSX Composite Index increased by 175.14 points, or 0.72 percent, finishing at 24,423.34. The index benefited from gains in various sectors, reflecting a positive sentiment in the Canadian market.
UK and European Markets:
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The FTSE 100 in the United Kingdom advanced by 44.98 points, or 0.53 percent, closing at 8,540.97.
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Germany's DAX surged 347.64 points, or 1.56 percent, ending at 22,676.41.
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France's CAC 40 increased by 47.05 points, or 0.59 percent, to close at 7,988.96.
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The EURO STOXX 50 index, representing major companies across the eurozone, rose 49.52 points, or 0.93 percent, finishing at 5,359.42.
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The Euronext 100 Index climbed 16.65 points, or 1.07 percent, to 1,569.02.
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Belgium's BEL 20 saw a significant uptick of 89.79 points, or 2.09 percent, closing at 4,386.42.
Asian Markets:
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In China, the Shanghai Composite edged down 7.90 points or 0.23 percent to 3,371.92.
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Hong Kong's Hang Seng Index declined by 181.83 points, or 0.76 percent, ending at 23,600.31.
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In Singapore the STI Index experienced a modest gain of 7.24 points, or 0.19 percent, closing at 3,833.07.
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India's S&P BSE SENSEX edged down by 72.56 points, or 0.10 percent, ending at 74,029.76.
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In Malaysia the FTSE Bursa Malaysia KLCI fell 35.32 points, or 2.32 percent, to 1,484.83.
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South Korea's KOSPI Composite Index advanced 37.22 points, or 1.47 percent, to 2,574.82.
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In Taiwan the TWSE Capitalization Weighted Stock Index rose 207.27 points, or 0.94 percent, ending at 22,278.36.
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Japan's Nikkei 225 recorded a slight increase of 25.98 points, or 0.07 percent, closing at 36,819.09.
Oceania:
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Australia's S&P/ASX 200 dropped 103.90 points, or 1.32 percent, to 7,786.20, marking its lowest level since August. This decline positions the index on the verge of a "technical correction," with significant losses observed in the banking and materials sectors.
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The ALL ORDINARIES index in Australia decreased by 100.80 points, or 1.24 percent, closing at 8,002.60.
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New Zealand's S&P/NZX 50 Index Gross declined by 161.42 points, or 1.30 percent, closing at 12,249.
Middle Eastern Markets:
Africa:
Overall, global markets displayed varied performances, reflecting investor responses to ongoing trade tensions and economic indicators.
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