India, Aug. 14 -- Rate cut expectations from the Fed eased after data from the U.S. revealed a higher-than-expected level of producer price inflation. The unexpected decline in the weekly initial jobless claims also weighed on Fed rate cut expectations as well as global market sentiment.
Data released by the U.S. Bureau of Labor Statistics on Thursday morning showed headline producer prices as well as its core component rising 0.9 percent month-on-month in July versus the flat reading in June. The biggest increase in producer prices since June 2022 came in much higher than expectations of 0.2 percent.
Wall Street Futures are trading in the red. Benchmarks in Europe are trading on a mostly positive note. Asian markets finished trading on a...