US CPI Comes Lower Than Estimates, Global Markets Gain | ET Now | English news

US July CPI numbers came in at 8.5% YOY, around 20bps lower than the consensus expectation of 8.7%. In fact the number was largely flat month on month and risk assets gained in trade on Wednesday. All 3 US indices gained 1.5% to 3% in trade with beaten up tech shares seeing a jump. Meta and Netflix jumped nearly 6% each. European indices were also buoyed on the back of the better than expected CPI inflation numbers. Asian indices too have opened higher. Oil prices fell slightly before easing higher on a weaker dollar with the dollar index at 105. The US 10 year bond yields fell slightly to around that 2.75% mark.