Stocks edge higher as inflation fears grow ahead of Trump-Xi summit

Global equities rose modestly on Wednesday alongside the US dollar, while Treasury yields moved toward a third consecutive day of gains as investors assessed fresh signs of inflationary pressure linked to the Iran war.

MSCI’s global equities gauge advanced slightly as markets focused on hotter-than-expected US producer price data and awaited a summit between US President Donald Trump and Chinese President Xi Jinping.

The US Labor Department said producer prices rose more than expected in April, marking the sharpest increase since early 2022.

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