U.S. stocks are on track for a 3-day winning streak.
Headline inflation jumps in May. Jobless claims drop to 267,000.
U.S. stocks opened higher on Thursday as investors digested a number of upbeat economic reports and a day after the Federal Reserve struck a dovish tone and emphasized that rate hikes will come at a slower pace than expected.
Gold futures are climbing, helped by pullback in the U.S. dollar as the Federal Reserve signals it will raise interest rates at a gradual pace.
Oil markets rallied on Thursday on the back of a weaker dollar as investors weighed mixed U.S. oil inventory data. West Texas Intermediate futures for July were trading up 1% at $60.53 a barrel, while Brent crude for August delivery rose 1.1% to $64.60 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange.
The U.S. dollar fell to a one-month-low after the U.S. Federal Reserve signaled Wednesday it will go slow with any interest-rate increases. As oil is priced in dollars, it becomes more expensive for holders of other currencies as the greenback appreciates.
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