US prices for October are forecast to have risen well above the Fed’s target, but markets see this as temporary
Screens at the London Stock Exchange in London, the UK. Picture: BLOOMBERG/LUKE MACGREGORGlobal stocks steadied below this week’s record highs and oil prices rose in jittery markets on Wednesday ahead of inflation data later in the day.
Brent and US crude futures extended gains into a fourth session, hitting two-week highs around $85 a barrel, after industry data showed US crude stocks unexpectedly fell last week. Another inflation warning came from Chinese factory gate prices, which are gaining at their fastest clip in a quarter century.Shares in Chinese property developer Fantasia Holdings fell as much as 50%, before recouping some losses, after a six-week trading halt as the company warned it might not be able to meet its debt obligations.
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