Australian shares are set to open higher, bolstered by gains in New York as investors had their hopes for a Fed pivot renewed by July’s CPI data.
Australian shares are poised to rise, taking direction from New York as stocks surged after the annual pace of headline inflation slowed in July from June, seen as easing pressure on how much US interest rates must rise still.Corporate reports expected on Thursday: AMP | GQG Partners | Mirvac | QBE | and Telstra .
“The Fed now has plenty of cover to reduce the pace and size of future rate hikes. This is really good news and decreases the odds of stagflations and the need for a big recession to break the back of embedded inflation.”Overseas data: US final PPI JulyAUD +1.9% to 71.01 US centsP 500 +1.9% Nasdaq +2.8%In Europe: Stoxx 50 +0.9% FTSE +0.3% CAC +0.5% DAX +1.2%Brent crude +1.5% to $US97.73 a barrelUS prices as of 2.03pm in New YorkThe U.S.
American Airlines said it had taken delivery of its first Boeing 787 Dreamliner since April 2021. American Airlines chief executive Robert Isom in an Instagram post reiterated the airline expects to receive nine 787s in 2022.: “Since February 2020 , consumer prices are up at a 5.6% annual rate and core prices are up at a 4.2% rate. How did we get here? By forcing an economy to shutdown while simultaneously injecting an unprecedented amount of fiscal and monetary stimulus.
Wind turbine maker Vestas jumped 8.8%, making it the best performer on the STOXX 600 after it said it would sell its converters and control panels business to KK Wind Solutions.
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