European markets were mixed on Friday morning as investors digested hotter-than-expected U.S. inflation data.
European markets were mixed on Friday morning as investors digested U.S. inflation data that dented confidence in the outlook for Federal Reserve interest rate cuts this year.the U.S. producer price index, which measures pipeline costs for raw, intermediate and finished goods, rose at a faster-than-expected 0.6% in February.U.S. inflation data is being closely monitored on Wall Street ahead of the Federal Reserve's two-day policy meeting starting next Tuesday.
The central bank is widely expected to hold its benchmark interest rate next week, although market participants will be searching for clues about when and by how much the Fed could start cutting interest rates over the coming months.on Thursday that the ECB must take its time to get interest rate cuts right and the institution will likely have a clearer picture of inflationary pressures in June.The residential real estate company on Thursday reported an annual loss of 6.
The figures come at a time when Germany's homebuilding sector has gone from bad to worse in recent months.Semiconductor stocks got a lift from the rising tide of artificial intelligence. But the divergence between semiconductor stocks that are doing well and those that aren't is becoming starker, UBS said.Nvidia, whose graphics processing units are used to train and run the chatbot. The chip designer's shares have skyrocketed almost 280% in the past year.
"Rather than focusing on so-called hot AI stocks – because names that are big today may not be the winners of tomorrow – investors may consider the many indirect beneficiaries, or diversified businesses, where the benefits of AI may not be immediately obvious to investors," Fidelity said in its report.is set to provide a trading update on Friday, while data releases include Italy's final consumer prices figures for February.
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