is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.


  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

U.S. stocks boast record closes as inflation data fuels rate-cut bets

(Reuters) -- Wall Street's three major indexes notched record closes on Wednesday with the benchmark S&P 500 and the Nasdaq both advancing more than 1%, after a smaller-than-expected rise in consumer inflation bolstered investors' hopes for interest rate cuts by the Federal Reserve.

All three indexes hit intraday record highs with technology stocks leading the charge. The blue-chip Dow drew closer to the 40,000 milestone.

Tepid U.S. Consumer Price Index (CPI) data for April fueled optimism that inflation was easing after three months of higher-than-expected numbers. This led traders to raise bets that the Fed will cut its policy rate in September and December.

"It's a relief we didn't have a fourth hot CPI report," said Carol Schleif, chief investment officer at the BMO family office in Minneapolis. "Clearly markets liked that the inflation numbers looked softer. Retail sales came in softer. It's pretty clear evidence that the economy came off the boil and is operating at a more sustainable pace."

Other data released on Wednesday showed U.S. retail sales were unexpectedly flat in April as higher gasoline prices pulled expenditure away from other goods, indicating that consumer spending was losing momentum.

The Dow Jones Industrial Average rose 349.89 points, or 0.88%, to 39,908.00 while the S&P 500 gained 61.47 points, or 1.17%, at 5,308.15.

The Nasdaq Composite advanced 231.21 points, or 1.40%, to 16,742.39, its second record close in as many days. The S&P 500 and the Dow last registered record closing prices on March 28.

Among the S&P 500's 11 major industry sector indexes, most gained ground with rate-sensitive technology stocks and real estate outpaced the rest with respective gains of 2.3% and 1.7%.