Tuesday, July 5

Tag: euro

Asian Shares Bounce Back, Shrugging off Inflation Concerns | Business News
Business

Asian Shares Bounce Back, Shrugging off Inflation Concerns | Business News

By ELAINE KURTENBACH, AP Business WriterAsian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier.The regional rally followed a mixed and muted close on Wall Street. Oil prices and U.S. futures also were higher.Investors are puzzling over what’s next with inflation and the U.S. central bank’s response to it. Trading has been volatile, with indexes prone to sharp swings as investors try to shield their portfolios from the impact of the highest inflation in decades.Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second four-year term, for the first time Thursday acknowledged that high inflation and weakness in other economies could thwart his efforts to avoid a re...