Yet April’s surprisingly strong U.S. inflation print spooked some, leading to a cautious run into the May numbers later on Thursday in case of another upside surprise.
Ahead of both key events, market sentiment remained subdued with MSCI’s broadest gauge of global stocks flat at 715.77 points, just off a record high of 718.19 hit last week.
U.S. stock futures pointed to a mixed open on Wall Street, with the S&P called flat and Nasdaq down 0.3%.
Ankit Gheedia, BNP Paribas’ head of equity and derivative strategy for Europe, said he expected inflation to pick up “sharply” in the coming months.
So we think there will be higher inflation during summer,” although stock volatility would likely remain low in the coming days, absent a shock on inflation.
April’s, Ankit Gheedia, Kit Juckes
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