Global stocks and dollar rise amid hot US inflation data

Global equities and the dollar rose on Wednesday after United States producer prices grew at their fastest pace since early 2022. The S&P 500 gained 0.58% as technology shares offset concerns over a three-year high in consumer inflation. Investors are weighing persistent price pressures against a high-stakes trade summit between President Trump and China.

The Bureau of Labor Statistics reported that producer prices increased more than expected in April. This data follows a surge in consumer prices driven by energy costs linked to the conflict involving Israel and Iran. Plante Moran Financial Advisors CIO Jim Baird said inflation remains the primary near-term worry for investors.