An index of Asian shares retreated while equity futures for US stocks rose slightly, indicating shares may bounce back after the S&P 500 fell more than 2% Monday. A gauge of the greenback steadied in early trading, after weakening to a 15-month low. Gold jumped to another record on haven demand.
US inflation tops 4% for first time in three years, keeping Fed hike in play
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.