LONDON, July 13 (Reuters) – Global shares hit new highs for 2023 on Thursday, buoyed by hopes that slowing U.S. inflation will convince the Federal Reserve to hit the pause button on interest rate hikes after this month.
U.S. stock index futures , , were firmer ahead of the opening bell on Wall Street, the main indexes poised to build on Wednesday’s sharp gains after data showed that consumer prices rose modestly in June, registering the smallest annual increase in more than two years.
Bets that the Fed could soon end its monetary tightening campaign sent the dollar to its lowest since April 2022, and pushed the yield on two-year U.S. Treasury note to a nearly four-week low.
Interest rate futures showed markets have fully priced in another rate hike from the Federal Open Market Committee (FOMC) later this month, but expectations of any further increases have faded.
The softer dollar helped gold prices advance to near one-month highs, while oil prices hovered above $80 a barrel.
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Source: www.reuters.com
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