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Morning Report 15 Aug 24: Encouraging inflation figures push US stocks to a fifth day of gains
Manage episode 434251349 series 3531694
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US stocks had mixed fortunes despite encouraging inflation data, with US inflation reaching a three-and-a-half-year low. Shelter inflation stood out, accounting for 90% of the overall rise in the CPI for July. Alphabet weighed on the NASDAQ as options are being considered for breaking up the online search giant. Iron ore prices hit their lowest since May 2023, while lithium miners are in focus after Albemarle's 5% drop. Locally, Australian shares are expected to open higher on Thursday ahead of key jobs data, while the Aussie dollar softened overnight.
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