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Global stocks gain for third day inflation data

NEW YORK (Reuters) – Stocks on major world markets for US inflation, US inflation, inflation, inflation, inflation, inflation, inflation . After tumbling about record highs, U.S. benchmark stocks were helped on Tuesday by gains in and Apple, while advancing by Asian heavyweights Tencent, Alibaba and Taiwan Semiconductor supported world markets. Economic growth in the US, Europe and Asia, inflation, inflation, inflation, inflation, inflation, inflation Wednesday, May 20, 2011 Economists expect the U.S. consumer price index for January to have risen over month by 0.3 percent with underlying inflation of 0.2 percent when the Labor Department reports on Wednesday, according to a Reuters poll. But the year-on-year increase in the CPI is seen to be slowing to 1.9 percent from 2.1 percent in December. “After years of pronouncing inflation” dead, “the market is now suddenly focused on and dreading inflation, which is one of the cornerstones of this most recent period of market volatility,” said Mike Terwilliger, portfolio manager of Resource Liquid Alternatives for the Resource Credit Income Fund. The prospect of higher inflation forcing the Federal Reserve to increase the rate of interest rates, and the threat of a widening US federal budget deficit in the wake of the US Treasury, could lead to a significant repricing of all fixed-income assets, analysts said. “It does not mean it’s going to be conflicting right now but it’s certainly the way it’s going to get in the market,” said Larry Hatheway, chief economist at GAM Investment Management in Zurich. Too high a reading for U.S. inflation would be negative for both bonds and stocks. MSCI’s gauge of stock markets in 47 countries .MIWD00000PUS closed up 0.32 percent and its emerging markets index .MSCIEF rose 0.96 percent on Tuesday. In Europe, the pan-regional FTSEurofirst 300 index .FTEU3 closed down 0.63 percent. The Dow Jones Industrial Average .DJI rose 39.18 points, 0.16 percent gold, to 24.640.45. The S & P 500 .SPx gained 6.94 points, Gold 0.26 percent, to 2.662.94 and the Nasdaq Composite .IXIC added 31.55 points, gold 0.45 percent, to 7,013.51. The S & P 500 index has recovered 3.2 percent from a record peak in January. A man walks past an electronic stock quotation board outside a brokerage in Tokyo, Japan, February 9, 2018. REUTERS / Toru Hanai Cleveland Fed President Loretta Mester, a voting member in the U.S. central bank’s rate-setting committee this year, said inflation should pick up this year’s rate. The market is likely to be affected by U.S. economy’s overall strong prospects, Mester told the Chamber of Commerce in Dayton, Ohio. U.S. long-dated Treasury yields are also higher in the United States. Benchmark 10-year notes US10YT = RR last rose 6/32 in price to yield 2.8349 percent. German government bonds have been in demand as a multi-year highs on yields on the Atlantic as proven attractive for some investors. Germany’s 10-year bund, the benchmark for the euro bloc, was down 1.5 basis points at 0.74 percent, off 2-1 / 2 year highs from 0.81 percent hit last week. DE10YT = RR The Japanese yen rose to a five-month high on the back of broad-based U.S. dollar selling and speculation the Bank of Japan’s record of monetary stimulus. The U.S. dollar index .DXY fell 0.55 percent, with the euro EUR = up 0.5 percent to $ 1.2353. The Japanese yen JPY = 0.78 percent versus the greenback at 107.80 per dollar. Oil prices have been slowed down by a large number of times the world’s economy. Brent futures LCOc1 hit a two-month low early, but the benchmark settled up 13 cents at $ 62.72 in barrel. U.S. West Texas Intermediate crude futures CLc1 fell 10 cents to settle at $ 59.19 in barrel. Gold prices rose on Tuesday as the dollar slipped. U.S. gold future futures GCv1 for April delivery settled up $ 4, or 0.3 percent, at $ 1,330.40. Reporting by Herbert Lash; Editing by Clive McKeef Our Standards: The Thomson Reuters Trust Principles.

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