Asia-Pacific markets open higher after the S&P 500 and Dow Jones Industrial Average shook off geopolitical concerns and reached new highs.
Sign up for NBC San Diego's News Headlines newsletter.which rose 2.8% from a year ago. Economists polled by Reuters had predicted the inflation rate would come in at 2.3%, down from 2.5% in August.September meeting, in which it cut by a half percentage point, revealed that a"substantial majority of participants" had favored reducing interest rates by the larger amount.
The strong trading day also came despite lingering fears of a broader war in the Middle East as Israel promises toCNBC Pro: These cheap stocks are outperforming, and analysts give 5 more than 20% upsideand others all see the S&P 500 around 6,000 by the end of the year, up from around 5,730 on Tuesday.
With markets already running high, CNBC Pro screened for global stocks that have outperformed the MSCI World index, but still look cheap based on their forward price-to-earnings ratios.Dow Jones Industrial AverageOil futures sold off more than 4% on Tuesday as the rally on war risk in the Middle East has stalled out. Israel has vowed to hit back against Iran for last week's ballistic missile strike, but there is growing perception that it may not target oil facilities.
"From here, durable forms of supply disruption need to occur to see further advances for energy," Ryan Grabinski, managing director and investment strategist at Strategas.fell 0.5%% in afternoon trading, putting the stock on track for its eighth consecutive day of losses. If the stock closes lower, this will mark its longest losing streak since March 23, 2021, when it saw eight straight days in the red.
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