• By The Financial District

Buoyant Stock Market Dithers As U.S. Inflation Bites

Boosted by a $1 trillion US infrastructure bill, global stock markets held the line close to their all-time highs on Tuesday but investors were reluctant to commit further to the rally before getting a clearer picture of the surge in US inflation, Julien Ponthus, and Julie Zhu reported for Reuters.


Photo Insert: A clearer picture of the surge in US inflation prevented investors from going all-out.



The pan-European STOXX opened flat but just a whisker from the record high hit last week while MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.26%. US stock futures were broadly unchanged after Wall Street's benchmark S&P 500 index and the Nasdaq extended their run of all-time closing highs to eight straight sessions.


The yield on benchmark 10-year Treasury notes ticked down to 1.4793% while the eurozone benchmark, the German 10-year bund, edged down slightly to -0.254%.



The dollar index, which tracks the greenback against a basket of six currencies, was down 0.06% at 94.00 while Japan's yen hit a one-month high against the greenback.


Elsewhere in cryptocurrencies, bitcoin hit a new record and held close to it at about $68,000.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Oil prices were slightly up as the passage of the US infrastructure bill and China's export growth supported the outlook for energy demand. Saudi Arabia's state-owned producer Aramco also raised the official selling price for its crude.


US crude ticked up 0.59% to $82.4 a barrel. Brent crude rose 0.46% to $83.31 per barrel. Spot gold was slightly down at $1,823.800 per ounce.



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