As you can see from the accompanying table it was broadly a positive week for global financial markets. Major U.S. stock indexes closed higher for the second week in a row. At the sector level, information technology stocks outperformed, due in part to upbeat sentiment around artificial intelligence (AI)-related stocks in the wake of several positive corporate earnings reports.
Eurozone inflation slowed to 1.9% in May, down from 2.2% in April, marking the first time since September 2023 that price growth has dipped below the European Central Bank’s 2% target. Core inflation, which excludes volatile items such as food and energy, also declined to 2.4%, compared to 2.7% the month before.
As you can see from the accompanying table global equity closed out May on a broadly positive footing, with strong gains in the U.S. and Asia helping offset softer performances in parts of Europe and emerging markets. Equities were supported by encouraging inflation data and evolving trade policy developments.
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