Inflation jitters return: Gold breaks $4,400
Markets are turning cautious as rising oil prices revive inflation worries ahead of key US CPI data.
Bonds feel the heat
- US 10-year Treasury yield climbed to 4.71%
- Australia and New Zealand bond yields also moved higher
- Investors are watching whether inflation could keep rates higher for longer
Oil keeps the pressure on
Brent crude held above $87 a barrel after a sharp rally, as uncertainty around the Strait of Hormuz continues to cloud the outlook.
Gold keeps climbing
Gold rose for a third straight day, moving above $4,400 an ounce as investors look for protection amid inflation and geopolitical uncertainty.
Wall Street hits pause
- S&P 500 ended broadly flat
- Nasdaq 100 slipped 0.3%
- Energy stocks led gains as oil prices climbed
- Investors remain cautious after the recent run to record highs
CPI is the next big test
All eyes are now on US inflation data due Wednesday. A hotter reading could put pressure on rate-cut expectations, while cooler inflation could support the market’s recent momentum.
AI trade enters the spotlight
Chipmakers and tech companies are back in focus as Applied Materials, Lumentum and Cisco prepare to report earnings.
Corporate watch
- Nvidia: teaming up with major Wall Street firms on a reported $500 billion AI infrastructure package
- Intel: looking to raise around $20 billion through a larger share sale
- Anthropic: reportedly struck a $9.1 billion deal with Riot Platforms for AI data center capacity
- Adani: won dismissal of US securities fraud charges
- Tencent: WorkBuddy’s early success is raising hopes for an AI turnaround
Markets are waiting for the next signal
Oil is rising. Gold is rising. Bond yields are climbing. And investors are waiting for CPI to show whether inflation is cooling or making a comeback.
What happens next could set the tone for markets.