US Inflation Jumps to 3.8% as Oil Spikes and 30-Year Yield Tops 5%

On today's episode of Market Brief – After Hours, US consumer prices rose to 3.8% annually — the highest reading since May 2023 — driven by a 0.6% monthly jump, with tomatoes surging 39.7%, coffee up 18.5%, shelter inflation running at 3.3%, and energy a major driver as oil spiked back above $100 after Trump declared the Iran ceasefire is on "massive life support". The 30-year Treasury yield climbed back above 5% as rate cut expectations evaporated, dragging the Nasdaq 0.71% lower while Qualcomm plunged 11% and semiconductors reversed sharply. In Europe, over 100 Labour MPs called for Keir Starmer's resignation as UK retail sales contracted 3.4%, and Japan's 10-year yield hit its highest level since 1997. We break down the full picture across global equities, EUR/USD, GBP/USD, USD/JPY, gold, and today's biggest movers including Vestis, Wendy's, ZoomInfo, and Under Armour. Hosted on Acast. See acast.com/privacy for more information.