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Stocks rise on tame inflation outlook, dollar eases
16 March 2019, 02:54 | Joann Bryant
Asia stocks to rise as US gains
Britain's parliament voted against the risk of a "no-deal" Brexit, 24 hours after a second defeat for Prime Minister Theresa May's divorce agreement left Britain heading into the unknown. U.S. producer prices barely rose in February, the U.S. Labor Department reported on Wednesday, resulting in the smallest annual increase in more than 1-1/2 years.
The rally in US technology stocks continued, with Apple and Visa leading the pack as investors grew confident the Federal Reserve won't rush to raise rates.
Oil prices extended overnight gains with US crude up 15 cents per barrel at $58.41 and Brent adding 22 cents to $67.77.
NEW YORK, March 13 (Reuters) - World equity markets advanced broadly on Wednesday after US data again showed risk-friendly low inflation, which weakened the dollar, but shares of Boeing retreated after the United States said it would ground the company's 737 MAX aircraft.
The Australian dollar reacted the most to the report, falling to its lowest in three days at $0.7049, down 0.6 percent on the day. Immediate resistance can be seen at 1.3300 (Psychological Level), an upside break can trigger rise towards 1.3365 (61.8% retracement level).On the downside, immediate support is seen at 1.3273 (21 DMA), a break below could take the pair towards 1.3264 (50 DMA). Sterling rose 1.01 percent to $1.3205 while the dollar softened against the yen and euro.
The Japanese yen decreased 0.5 percent to 111.744 per dollar.
The Stoxx Europe 600 Index climbed 0.5 percent as of 6:22 a.m. Emerging-market currencies and shares edged lower.
The pound rose on expectations lawmakers would reject a no-deal Brexit and gained further after the motion in Parliament paved the way for a new vote to delay departure from the EU. NY time to the highest in more than five months.Futures on the S&P 500 Index were unchanged at the highest in more than four months.The MSCI Asia Pacific Index fell 0.3 percent.The MSCI Emerging Market Index declined 0.1 percent.The U.K.'s FTSE 100 Index climbed 0.6 percent to the highest in more than three weeks on the largest increase in more than a week.
Dow Jones closed up by 0.58 percent, S&P 500 ended up 0.69 percent, Nasdaq finished the day up by 0.69 percent. The U.S. dollar was softer on Wednesday after new inflation data bolstered the likelihood U.S. interest rates will not be raised any time soon.
Germany's 10-year yield gained two basis points to 0.086 percent.
While sterling has recently rallied as investors latched on to the hope of a Brexit deadline extension, that euphoria may be short-lived, said Marcus Wong, strategist at CIMB Bank Bhd.
West Texas Intermediate crude gained 0.6 percent to $58.58 a barrel. The pound has gained nearly 4 percent this year to become the top-performing G-10 currency amid hopes Britain would not violently crash out of the bloc. USA crude oil futures settled at $58.26 a barrel, rising $1.39 cents, or 2.44 percent.
Haha Clinton-Dix is the ideal combination with Eddie Jackson
Safety Ha Ha Clinton-Dix has signed a one-year deal with the Chicago Bears, reports NFL Network's Ian Rapoport and Mike Garafolo . He'll join forces with All-Pro safety Eddie Jackson to form the new safety tandem for Chuck Pagano's defense with the Bears.
Chiefs release five-time Pro Bowl S Eric Berry
The Kansas City Chiefs continued to reshape their defense on Wednesday, as they released star safety Eric Berry . Sadly, his career was halted when he was diagnosed with Hodgkin's lymphoma back in December of 2014.
Thomas, Ingram makes a ton of sense for Ravens
After not missing a game in his first six seasons, he wound up on injured reserve with broken legs in two of the last three years. The safety will receive $32 million in guaranteed money and will also earn $22 million in the first nine months of the contract.
‘Much More to Come’ in Lisa Page Revelations
He said he didn't recall specifically writing it, but says he now thinks the "we" he was talking about was the country at large. Mueller III's investigative team in 2017 after it was discovered they had exchanged anti-Trump texts .
N. Korea reconsiders denuclearization talks with US
North Korea also has hardliners of its own, who may perceive Kim Jong-un's 120-hour train trip to Hanoi and back as a failure. North Korea acknowledged for the first time last Friday that the Hanoi summit ended "unexpectedly without an agreement".