The FTSE rose (31 points (.37%), the DAX rose 71 points (.32%) and the CAC rose 38 points (.50%).
Australian inflation data came in at 2.4% with core inflation at 2.9%. Within the parameters set by the RBA increasing hopes of an interest rate cut in May.
US markets plunged in early trade when the US GDP figures were released but recovered dramatically in late trade.
The DOW rose 141 points (.35%), the NBI rose 65 points (1.56%), the NASDAQ Composite fell 14 points (.086%) and the Russell small cap index fell 11 points (.57%).
US GDP data showed a contraction of .3% in qtr 1 2025. This is the first contraction in three years. US core inflation came in at 3.5% Trump blames Biden for the drop in the GDP saying he had inherited a mess.
Economists, on the other hand, are blaming increased imports as companies stockpile goods before tariffs come into effect.
US Imports rose by 41% in the first quarter 2025.
US airlines have pulled 2025 financial forecasts citing uncertainty on non-essential travel.
US Treasury 10 year bond yield is down to 4.158%
Oil prices have dropped again to US$61.11 per barrel.
Gold price fell to US$3,294 per oz.
BITCOIN rose to US$94,569.
IMU Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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