Equity Markets Edge Up Amid Inflation Concerns

Global equity markets barely rose on Wednesday as investors digested hotter-than-expected US inflation data, while they awaited Nvidia's earnings report for insights into the AI spending boom. MSCI's global equities gauge climbed 0.04% to 1,150.06.

The Dow Jones Industrial Average fell 113.52 points, or 0.21%, to 53,463.88, while the S&P 500 declined 1.58 points, or 0.02%, to 7,675.70. The Nasdaq Composite dropped 21.10 points, or 0.08%, to 26,130.20.

US Treasury yields rose after the inflation data, with the yield on benchmark US 10-year notes increasing by 0.75 basis points to 4.647%. Odds that rates would stay steady at the Fed's September meeting increased to roughly 64% from 60.4%, while bets for a 25 basis point interest rate hike dropped to 36%.

The dollar index rose 0.24% to 99.15, with the euro down 0.18% at $1.1653 against the greenback. Spot gold prices fell 1.32% to $4,595.33 an ounce, while US gold futures declined 0.65% to $4,607.80 an ounce.