Yellen predicts consumer inflation will pick up
S&P rose to new heights as copper and oil drove a commodity index to a half year high. In the meantime Janet Yellen the gradual rate increases won’t be inhibited by the soft inflation.
Here’s the most important among stocks:
S&P 500 added 0.2% at the close in New York.
Stoxx Europe 600 was little changed.
IBEX fell 0.8%.
MSCI Emerging Markets added 0.5% to the highest in 6 years.
The bull session transferred to currencies where risk reigned supreme:
The dollar gained 0.2% vs. developed market peers.
The euro lost 0.2% to $1.1792.
The pound dropped 0.3% to $1.3249, the first retreat in a week.
The yen slipped 0.3% to 112.16 per dollar.
Just as with commodities – havens stalled:
WTI gained 0.8% to $51.86 a barrel.
Gold slumped 0.7% to $1,294.40 an ounce.
Copper jumped 3.4% to $3.239 a pound, the highest in three years.