Markets Rally Amid Middle East Truce and Inflation Focus
Markets remained steady as Middle East tensions de-escalated and investors assessed inflation and interest rate prospects. Technology gains offset losses in real estate and utilities stocks, while oil prices rose. A ceasefire in the Middle East and Federal Reserve deliberations on inflation impacts were central developments.
Global equity markets remained largely steady with near-record highs as tensions in the Middle East eased and investors directed their focus toward U.S. inflation figures and possible interest rate cuts. Notably, crude oil prices experienced an uptick following a period of declines.
The S&P 500 stayed flat near its all-time high, while technology and communication stocks outpaced losses in real estate and consumer staples. The Nasdaq saw modest gains in contrast to a decline in the Dow Jones. Meanwhile, European equities fell by 0.74%, with Asian shares showing a modest increase.
A ceasefire between Israel and Iran appears to be holding, minimizing potential disruptions to the global oil trade. Federal Reserve Chair Jerome Powell's congressional testimony, combined with ongoing discussions on the impact of Middle East tensions and oil price adjustments, remains influential in market dynamics.
(With inputs from agencies.)
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