Rally resumes as the 'peak inflation' narrative continues to embolden bulls
U.S. stock futures resumed their rally Tuesday as optimism over the Chinese economy lifted risk appetite.
What’s driving markets The Wall Street rally sparked by last week’s softer-than-expected U.S. consumer inflation data was back on course, assisted by positive China-related news. “The injection of optimism inserted into the limbs of the financial market after last week’s U.S. CPI report showed some signs of fading yesterday although there’s been a recovery in Asia as China continues to support the economy and the interpretation of Biden/Xi meeting yesterday is spun a bit more positively in Asia,” said Jim Reid, strategist at Deutsche Bank.
However, Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said that while the latest developments in China were good news for the global economy they were “bad news for global inflation”.
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