- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
- 'Unspeakable horror': the attacks on Hiroshima and Nagasaki
- Stock markets diverge before China weekend briefing
- Christian villagers 'trapped' in south Lebanon crossfire
- Sabalenka sets up Gauff showdown in Wuhan semis
- EU questions shopping app Temu over illegal products risk
- Kim Sei-young holds lead with late birdies at LPGA Shanghai
- Toulouse welcome Dupont 'boost' as Olympic star returns to Top 14
- Japanese atomic bomb survivor group Nihon Hidankyo wins Nobel Peace Prize
- Deadly Israeli strike on Beirut likely targeted Hezbollah security chief
Stocks little changed after mixed US inflation report
Major stock markets were little changed Thursday after the latest US inflation report failed to settle the question of when interest rates could start coming down.
The personal consumption expenditures (PCE) price index -- the US central bank's favoured measure of inflation -- rose at an annual rate of 2.4 percent in January, down from 2.6 percent in December, the Department of Commerce said.
Markets initially rose as the slowing headline inflation number appeared to suggest the Federal Reserve could start cutting interest rates from their 23-year high.
However, markets gave up those gains as the closely watched "core inflation" measure, which strips out volatile food and energy costs, increased by 0.4 percent from a month earlier, indicating an uptick in underlying inflation from December to January.
"The collective sigh of relief from financial markets that the PCE data did not come in stronger than expected, is masking the evidence that shows the disinflation trend is slowing down, which could keep the Fed on pause for some time," said Kathleen Brooks, research director XTB.
The monthly jump indicates "inflation pressure coming down the pipeline" and "does not seem compatible with rate cuts from the Federal Reserve."
All the main US indexes rose initially before giving back some of those gains, with the Dow dipping into the red.
Expectations for rate cuts had already shifted to later this year after earlier data showed inflation in the world's biggest economy stubbornly above the Fed's target, while the stock market has been supported by healthy profits at major corporations.
"At one point, the bond market was pricing in the first rate cut in March," said Bret Kenwell, analyst at eToro. "Currently, that consensus has shifted to June and this report likely doesn’t do much to change that outlook."
In Europe, data showed inflation eased further in Germany, France and Spain. Eurozone inflation figures are due Friday.
Stocks ended higher in Frankfurt and little changed in London, while the Paris CAC 40 index reached a fresh intra-day high before falling.
The dollar rose slightly against its main rivals, while bitcoin rallied further to just over $62,000. Oil prices were largely flat.
- Key figures around 1640 GMT -
New York - Dow: DOWN 0.1 percent at 38,926.08 points
New York - S&P 500: UP 0.2 percent at 5,078.04
New York - Nasdaq Composite: UP 0.3 percent at 15,995.17
London - FTSE 100: UP 0.1 percent at 7,630.02 (close)
Paris - CAC 40: DOWN 0.3 percent at 7,927.43 (close)
Frankfurt - DAX: UP 0.4 percent at 17,678.19 (close)
EURO STOXX 50: DOWN 0.1 percent at 4,877.77 (Close)
Tokyo - Nikkei 225: DOWN 0.1 percent at 39,166.19 (close)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 16,511.44 (close)
Shanghai - Composite: UP 1.9 percent at 3,015.17 (close)
Euro/dollar: DOWN at $1.0811 from $1.0840 on Wednesday
Dollar/yen: DOWN at 149.78 yen from 150.70 yen
Pound/dollar: DOWN at $1.2635 from $1.2661
Euro/pound: DOWN at 85.56 pence from 85.60 pence
Brent North Sea Crude: UP 0.1 percent at $83.73 per barrel
West Texas Intermediate: UP 0.3 percent at $78.78 per barrel
burs/gv/rl
P.Mathewson--AMWN