July 15, 2026 8:13 AM
Asian stocks gain on drop in US inflation rate
Asian markets were higher on Wednesday after a surprise slowdown in U.S. inflation scaled back market expectations for interest rate hikes, while oil took a breather as the U.S. scrapped a plan to levy shipping through the Strait of Hormuz. Stellar earnings at Wall Street banks also had investors cheering, though a 25% drop in IBM's IBM.N share price, after the technology company's revenue forecast missed analyst expectations, showed how stretched and skittish the market's rally in AI-related s...