Holidays in the United States and UK made for thin trading ahead of Friday's figures on core personal consumption expenditures
Economists expect the personal consumption expenditures price index minus food and energy, due on Friday, to rise 0.2 per cent in April
Traders are pricing in 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in
Indices post biggest gains in two weeks
'If you have higher rates and - God forbid - stagflation, you will see stress in real estate and leveraged companies, and private credit,' Dimon said
Core US inflation slowed to an annualised 3.6 per cent in April, Wednesday's data showed
Gold marched back toward record levels, and crude oil added to gains after rebounding strongly
Spot gold rose 0.4% to $2,367.29 per ounce, as of 1322 GMT. U.S. gold futures rose 0.6% to $2,372.70
Fed Chairman Jerome Powell has downplayed the potential for rate hikes this year and recent data showed cooling in the labor market
The yuan slid to a two-week low versus the dollar after US President Joe Biden unveiled steep tariff increases on an array of Chinese imports
MSCI's broadest index of Asia-Pacific shares outside Japan climbed slightly and hit its highest since early 2023
There are also reports Chinese authorities are laying the groundwork for a sale of 1 trillion yuan ($138.39 billion) in longer-dated bonds to help fund stimulus spending at home
Inflation has been largely stalled for the first three months of the year at a rate, roughly 2.7%, that policymakers regard as still too far above their target to declare the job finished
US inflation is altering expectations
The currency fell 0.1 per cent in the week to end at 83.47, and the losses would have been larger had it not been for the Reserve Bank of India's (RBI) intervention
No respite from US inflation and geopolitical tensions
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 84,900
The personal consumption expenditures (PCE) price index rose 0.3% last month, the Commerce Department's Bureau of Economic Analysis said
The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from January, according to government data out Tuesday. From a year ago, it advanced 3.8%
Away from inflation, there are scant signs of stress in the economy. The latest jobs report pointed to moderating yet healthy employment growth that will keep consumer spending afloat.