China’s consumer price index climbed 0.3% year on year, beating expectations of a 0.2% rise estimated in a Reuters poll.
Asia-Pacific markets were set to open lower on Monday as investors assessed China's stronger-than-expected April inflation data.The producer price index, however, fell 2.5% year on year, more than the estimated 2.3% drop.The data highlight for the week will be Japan's first-quarter gross domestic product, expected to be 0.4% lower compared with the last quarter of 2023.
Consumer sentiment data released Friday morning showed a big uptick in inflation expectations, reining in Investor enthusiasm. The company's business model assumes buses, industrial trucks, and trains will likely use hydrogen in the future, rather than mass-market cars, which are now primarily transitioning towards electric power.
Looked at another way, Goldman Sachs has accounted for some 31% of the entire 1,405-point gain in the Dow Industrials over the past four weeks.Federal Reserve regional presidents Neel Kashkari of Minneapolis and Austan Goolsbee of Chicago said they are taking a patient approach to monetary policy as they weigh surprisingly strong inflation data this year.
"I don't like tying our hands even partially when we're going to get a lot of data and important information before the next meeting much less for the rest of the year," he said.
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