U.S stocks rose while the dollar fell after U.S consumer prices rose less than expected. According to Bloomberg, the less than expected surge in consumer prices eased inflation worries fueling gains in stocks.
NASDAQ 100 jumped more than 1% after notching its biggest gain in four months on Tuesday.
S&P 500 rose for a second day while the 10-year Treasury yields increased by two basis points and held near 1.54%.
Tesla added to its best advance in a year, the Ark Innovation ETF extended gains, while GameStop Corp. rose for a sixth day after more than doubling in a week.
Euro Stoxx 600 Index advanced 0.5% while the MSCI Asia Pacific Index gained 0.4%.
Among the commodities, Brent crude gained 1% to $68.18 a barrel while Gold strengthened 0.1% to $1,718.61 an ounce.
Analysts point out that rising bond yields is consistent with economic growth expectations but still favors cyclicals and supports equities over bonds, and weaker U.S dollar.
U.S stocks are currently gaining as the dollar loses. SPY is up 0.83%, QQQ is up 1.14%, EURUSD is up 0.11%.
