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GLOBAL MARKETS-Asian stocks make 7-month highs, Australian dollar gains on hot inflationBy MSCI's broadest index of Trading volume was depressed as Chinese and European markets were headed for a weak opening, with Eurostoxx 50 futures down 0.3%, German DAX futures eased 0.2% lower and FTSE futures were steady. E-mini futures for the S&P 500 shed 0.5% and Nasdaq futures lost 0.8%. Globally, stocks have posted strong gains this year after a
torrid 2022, based on expectations that inflation is close to
peaking and the rise in U.S. interest rates will taper off. The
dismantling of COVID controls in "The market continues to price for a dream scenario of
inflation having peaked then coming down sharply, but not
overshooting to the downside; only the very mildest of
recessions by any historical standards," Rabobank's global
strategist The MSCI's U.S. stock indexes closed mixed on Tuesday after companies reported better than expected profits, while warning of a difficult year ahead. Data showed U.S. business activity contracted for a troubling seventh straight month in January. Shares in Microsoft (MSFT) gave up most of their 4% gains posted in after-hours trade. The tech titan's better-than-expected results showed some strength in the face of a weak economy but weak revenue growth signalled tougher times for the sector. MSCI's all-country world index eked out a fresh five-month closing high on Tuesday. Stronger-than-expected economic data in The euro edged towards a nine-month peak of Australian equity markets fell 0.3% on Wednesday after a shock surge in inflation to a 33-year high in the last quarter of 2022 reinforced the case for the Reserve Bank of Australia to keep raising interest rates. Investors sharply narrowed the odds on RBA lifting its cash
rate by a quarter point to 3.35% when it meets on The U.S. crude oil prices were stable at Gold prices dipped to (Editing by
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