In denial | MarketTalk | Swissquote

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US stocks had a wobbling trading session yesterday. US equities gained, then lost, then rebounded to close the session in the green.
The 14% jump in Nvidia certainly helped improve the overall market mood, whereas the US economic data was mixed and was not supposed to pour water on the equity bears or improve sentiment regarding the Federal Reserve (Fed) hawks.
The latest GDP update from the US revealed that the US economy expanded slower than expected, while prices rose faster-than-expected.
We have one more important data point to watch before the week ends… and that’s the US PCE index, the Fed’s favourite gauge of inflation. Given the previous inflation data, we know that inflation has certainly eased, but not as much as expected.
Across the Atlantic Ocean, the European stocks gained and the euro fell on Thursday, even though the latest inflation data from the eurozone revealed that the core inflation advanced to a record high.
While the data released this morning showed that inflation in Japan rose to 4.3%, a 41-year high, and gave a rapid boost to the yen, sending the USDJPY down to the 134 mark. But we know that the Bank of Japan (BoJ), under the leadership of its new head Ueda, is not necessarily concerned about the rising inflation. And the divergence between the hawkish Fed and the dovish BoJ should continue playing in favour of USDJPY bulls.
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