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The price of gold just hit a new all-time high and that’s NOT a good sign. Plus, the CPI report for March has released and it revealed that inflation rose faster than expected yet again. But of course, the Biden administration is bragging about how gas inflation allegedly went DOWN.
After the CPI report, investors will turn their attention to the start of first quarter earnings results with the major banks reporting on Friday.
"The US CPI print seems to have the greatest potential to further shape the narrative if it materially surprises higher or lower," JPMorgan said.
"Easing wage growth means we're not in the middle of a labor-market induced inflation surge," Carson Group's Sonu Varghese said.
Most Asian equities sank Wednesday, tracking a sell-off on Wall Street, as a forecast-topping US inflation report dealt a hefty blow to hopes for an early interest rate cut.In that case, it's unlikely that the Federal Reserve will cut interest rates in May."