The three major U.S. indexes hovered around the flatline on Wednesday as traders digested a weaker-than-expected CPI report and digested the latest developments in the U.S.-China trade war.
All major inflation measures came in below expectations, suggesting that consumers are yet to feel the impact of President Trump's tariffs, perhaps because the most severe duties are still on hold or because businesses are still absorbing the extra costs. The data bolstered views that the Fed could cut interest rates twice this year.
Meanwhile, President Trump said a trade deal with China was done. After two days of negotiations, officials from the U.S. and China agreed on a framework to implement the Geneva consensus. However, the lack of concrete details and the need for final approval from Presidents Donald Trump and Xi Jinping kept markets cautious. Healthcare and consumer staples were the best performing sectors while industrials and materials lagged. (alg)
Source: Trading Economics
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