News Highlights: Top Global Markets News of the Day - Wednesday at 11 AM ET

Hot Inflation Report Weakens Case for Fed's June Rate Cut 
 

Consumer prices rose 3.5% in March from a year earlier, and underlying price pressures remained strong.

 
Stocks Drop After March Inflation Tops Forecasts 
 

The S&P 500, the Nasdaq Composite and the Dow industrials all retreated after the latest inflation reading came in hotter than Wall Street expected. The Dow was off nearly 500 points.

 
Bank of Canada Holds Policy Rate Steady at 5%, Seeks Assurances on Slowing Inflation 
 

The Bank of Canada left its benchmark interest rate unchanged for a sixth consecutive time at 5%, and said it needs to be assured that downward momentum in inflation is sustainable before rate cuts can begin.

 
WTO Sees Signs of Trade Revival, But Risks From Fragmentation 
 

World trade was seen rebounding this year and next as cooling inflation eases pressure on household budgets, but the recovery may be weakened by growing distrust and fresh barriers between some large economies.

 
Mortgage rates surpass 7%, reaching highest level in over a month 
 

Mortgage applications rose 0.1% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.01%.

 
U.S. Crude Oil Supplies Rise More Than Expected, Refinery Use Eases 
 

Weekly crude-oil inventories rose by 5.8 million barrels to 457.3 million barrels, compared with analysts' expectations of an added 800,000 barrels.

 
Germany Passed its First Chinese Test-This One Is Trickier 
 

The "China Shock 2.0" is the latest threat to the German model. Yet economic policy is in a paralysis: Unlike in the 2000s, the country's different corporate interests are no longer aligned.

 
European Central Bank to stand pat this week but faster-than-the-Fed rate cuts may hit euro 
 

The European Central Bank is expected on Thursday to leave interest rates at record highs but to imply that a cut in borrowing costs is likely by the summer

 
4 things Wall Street will watch for when the Fed releases minutes of March meeting 
 

Here's what investors will be watching for when the Federal Reserve releases minutes of its March policy meeting.

 
Banks Strike Back Against Private Credit 
 

Wall Street banks are gaining back ground against nonbank lenders.

(END) Dow Jones Newswires

April 10, 2024 11:15 ET (15:15 GMT)

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