US Inflation Data Plays Asian, European Markets, Gold Trades Above $2,350 – Global Markets Today While US Slept – SmartETF ETF Asia Pacific Dividend Builder (ARCA:ADIV)

US stock markets closed lower on Wednesday (April 10) after unexpectedly high inflation data reduced hopes of early rate cuts by the Federal Reserve.

Major indexes fell significantly early after the CPI report beat forecasts, pointing to a long battle to reach the Fed’s 2% inflation target.

The annual inflation rate in the United States rose for the second consecutive month, reaching 3.5% in March, up from 3.2% in February, according to economic data. Meanwhile, U.S. wholesale inventories posted a 0.5% monthly increase in February, marking a turnaround from the previous month’s 0.2% decline.

In the S&P 500, all 11 primary sectors closed in the red, except energy, with real estate posting the largest decline.

The Dow Jones Industrial Average fell 1.09% to close at 38,461.51. The S&P 500 slipped 0.95%, ending the day at 5,160.64, and the Nasdaq Composite fell 0.84%, closing the session at 16,170.36.

Asian markets today

• Japan’s Nikkei 225 index ended the trading day 0.30% lower at 39,445.00 on Thursday, led by losses in the paper and pulp, pharmaceutical and retail sectors.
• In Australia, the S&P/ASX 200 fell 0.44% to close at 7,813.60, led by losses in the A-REIT, consumer discretionary and healthcare sectors.
• The Indian market was closed for the Id-Ul-Fitr (Ramadan Eid) holidays.
• China’s Shanghai Composite index gained 0.23% to close the session at 3,034.25, while the Shenzhen CSI 300 slipped 0.01%, closing at 3,504.24.
• Hong Kong’s Hang Seng Index fell 0.26% to end the day at 17,095.03.

Eurozone at 06:15 ET

• The European STOXX 50 index lost 0.59%.
• The German DAX fell 0.56%.
• The French CAC fell 0.18%.
• The UK’s FTSE 100 traded 0.27% lower.

Commodities at 6:15 a.m. ET

• WTI crude oil traded 0.61% lower at $85.68 a barrel, and Brent fell 0.51% to $90.02 a barrel.
• Natural gas held steady at $1.885.
• Gold traded 0.11% higher at $2,351.10, silver gained 0.05% to $28.062, while copper fell 0.54% to $4.2588.

Future USA at 6:15 am ET

Dow futures fell 0.28%, S&P 500 futures fell 0.31% and Nasdaq 100 futures fell 0.25%.

Forex at 06:15 ET

The US dollar index gained 0.04% to 105.29, the USD/JPY fell 0.01% to 153.16, and the USD/AUD fell 0.14% to 1 ,5340.

Photo by Pavel Bobrovskiy via Shutterstock