* Asia struggles to carry on Wall St rally. * Japan economy shrinks, Aussie wages data misses. * U.S. dollar steadies after slump from 20-year peak. By Tom Westbrook.
Global stocks plunged and the dollar strengthened for the first time in four sessions on Wednesday as concerns about rising inflation on economic growth soured sentiment. The mood was underscored by a 9% surge in British consumer prices and a faster-than-expected acceleration in inflation in Canada.
* Asia struggles to carry on Wall St rally. * Japan economy shrinks, Aussie wages data misses. * U.S. dollar steadies after slump from 20-year peak. By Tom Westbrook. Asia's stockmarkets struggled to carry recent gains into a fourth straight session on Wednesday and the U.S. dollar steadied, as nagging doubts about inflation and the drag from rate rises crept back in to the global growth outlook.
A gauge of global equity markets rebounded and U.S. Treasury yields rose on Tuesday as an easing of China's crackdowns on tech and COVID-19 and solid U.S. retail sales in April suggested economic growth might be getting stronger.
U.S. business inventories increased slightly more than expected in March, lifted by a jump in motor vehicle stocks, government data showed on Tuesday. Business inventories rose 2.0% after increasing 1.8% in February, the Commerce Department said. Inventories surged 14.7% on a year-on-year basis in March. Motor vehicle inventories rose 1.6% instead of 1.2% as estimated last month.
U.S. business inventories increased slightly more than expected in March, lifted by a jump in motor vehicle stocks, government data showed on Tuesday. Business inventories rose 2.0% after increasing 1.8% in February, the Commerce Department said. Inventories surged 14.7% on a year-on-year basis in March. Motor vehicle inventories rose 1.6% instead of 1.2% as estimated last month.
- Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. Ten of the 11 major S&P sector indexes advanced, with financials, materials and technology among the top performers.
- Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth.
- The S&P 500 ended lower on Monday, with Tesla and other growth stocks losing ground after downbeat Chinese economic data added to worries about a global slowdown and rising interest rates.
* Energy index leads as oil rallies. * Spirit Airlines (SAVE) surges after JetBlue (JBLU) launches hostile takeover. * Indexes close: S&P 500 -0.39%, Nasdaq -1.20%, Dow +0.08% By Amruta Khandekar and Noel Randewich. May 16 - The S&P 500 ended lower on Monday, with Tesla and other growth stocks losing ground after downbeat Chinese economic data added to worries about a global slowdown and rising interest rates.
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