May 31, 2024 10:18 PM

Global stocks lose steam after U.S. data

MSCI's global equities index gave up earlier gains on Friday after data showed modest U.S. inflation in April, while the dollar fell with Treasury yields as investors still bet on Fed interest rate cuts this year. The U.S. Commerce Department said the personal consumption expenditures (PCE) price index, widely seen as the Fed's favored inflation indicator, increased 0.3% last month, in line with expectations and the March increase, while core PCE rose 0.2% compared with 0.3% in March. "The mar...