Asia-Pacific markets slip after data shows U.S. inflation near 40-year highs in April

Asia-Pacific markets slip after data shows U.S. inflation near 40-year highs in April


Stock picks and investing trends from CNBC Pro:

The U.S. consumer price index surged 8.3% in April as compared with a year ago — near the highest level in more than 40 years, official data showed Wednesday, . The April reading, which represented a slight ease from March’s peak, was also above the Dow Jones estimate for a 8.1% gain.

Shares on Wall Street dropped following the release of the U.S. consumer inflation data. The tech-heavy Nasdaq Composite lagged as it fell 3.18% to 11,364.24 while the broader S&P 500 shed 1.65% to 3,935.18. The Dow Jones Industrial Average declined 326.63 points, or 1.02%, to 31,834.11.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 104.015 as it continues to hold above the 103.8 level that it fell below at certain points earlier this week.

The Japanese yen traded at 129.70 per dollar, stronger as compared with levels above 130.5 seen against the greenback earlier this week. The Australian dollar was at $0.6925 after a recent decline from levels above $0.70.

— CNBC’s Jeff Cox contributed to this report.



Source

How Florida quietly surpassed California in solar growth
World

How Florida quietly surpassed California in solar growth

Solar energy is booming across the U.S. and, for the first time, Florida is catching up to industry powerhouses Texas and California. Despite removing climate change from its official state policy in 2024, Florida added more utility-scale solar than California last year, with over 3 gigawatts of new capacity coming online.  “This is not a […]

Read More
Yoga, Zumba or HIIT? The best way to exercise, based on your personality type
World

Yoga, Zumba or HIIT? The best way to exercise, based on your personality type

Curating your fitness routine to better match your personality could help you get the most out of your workouts, a new study shows. The paper, published last month in Frontiers in Psychology, shows that certain personality traits may indicate which type of exercises people enjoy and how likely they are to stick with them. “We […]

Read More
29-year-old American left NYC and moved to Istanbul where he started a tourism company that brought in 0,000 last year
World

29-year-old American left NYC and moved to Istanbul where he started a tourism company that brought in $100,000 last year

In 2017, Doug Barnard, a college student at the time, took a trip to India with his mom. The experience was so impactful that it eventually inspired him to become a full-time traveler—a path he didn’t know was possible for him. “Going to India was an eye-opening experience for me. It was the first time […]

Read More