The Nasdaq bounces back to bull market territory following yesterday’s better-than-expected inflation report. U.S. President Joe Biden says a lot more needs to be done to bring prices down. Treasury yields also contract on investor anticipation of less aggressive rate hikes but three Fed officials maintain there will further rises this year. Disney shares are in the green in extended trade on strong Disney + subscriber numbers. The entertainment giant has announced a price hike for the streaming service. And in Asia, Soft Bank has cut its Alibaba stake to 14.6 per cent to raise $34bn in a bid to bolster its balance sheet.

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