US stocks closed broadly higher overnight closing off near best levels. Nasdaq posted its highest close since August, supported by a rally at Google +4.1% as the company rolled out more AI for its core search product. April CPI data was the highlight of the day coming in largely in line with expectations, regional banks under pressure again, treasuries stronger while the USD Index slipped. Dow Jones down 30 points (-0.09%). Dow at best up 210 and at worst down 322. S&P 500 up 0.24%. NASDAQ up 1.04%. VIX Volatility Index down 7.0%. In European markets Stoxx 50 -0.4%, FTSE -0.3%, CAC -0.49%, and DAX -0.37, up 0.02%. SPI Futures are down 12 points (-0.17%).

HEADLINES

• ASX to fall; US inflation eases.
• Nasdaq rallies as investors cheer inflation data, Alphabet.
• Stocks rise as U.S. inflation trends lower, bond yields slide.
• Yields drop after US consumer price data.
• European stocks fall after sticky U.S. inflation, upbeat earnings cap losses.
• US annual inflation slows to below 5%, price pressures still strong.
• US Congress, White House begin tough debt limit, budget negotiations.
• Disney shares slip as company loses streaming subscribers.
• Gold eases on profit taking after US inflation data.
• Weak Chinese demand outlook punishes copper.
• Lithium producers Allkem, Livent to combine in US$10.6 billion deal.
• Australia exports first copper to China since 2020, industry hopes end to ban near.
• Oil drops 1% after US data points to further rate hikes.

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