Stocks Continue Climbing Despite Inflation Bump
Their interest is rising. Global stocks extended their rebound today, with the Stoxx Europe 600 and Asian markets, minus Chinese and South Korean exchanges closed for the Lunar New Year, enjoying a bounce upon opening. Yesterday data showed increased U.S. consumer prices and retail sales at an 11-month low, and the dollar has slipped in trading. But despite market fears of inflation causing an angst-ridden correction last week, it didn’t appear to impede today’s optimism and yesterday saw the Dow climb 1 percent, although a strong yen might discourage Tokyo traders.