Equities Rise Amid Ongoing US-Iran Tensions
Global equities edged up on Wednesday as investors weighed talks to end the Iran war and U.S. data showing a slight increase in inflation, which dampened expectations for a Federal Reserve rate hike.
The U.S. consumer prices rose by 0.1% in July, matching forecasts, but the small rise could weaken the case for an interest rate increase from the Fed next month.
Robert Pavlik, senior portfolio manager at Dakota Wealth, said the data 'relieves some of the concerns that the Fed is being pushed toward a rate hike due to inflation,' which is partly driven by higher energy prices.
Oil prices dipped as investors weighed lower demand forecasts, despite recent tensions over U.S.-Iran relations. Brent crude futures fell 0.26% to $88.68 per barrel, and U.S. crude dropped 0.49% to $82.79.