Higher CPI pushes back rate cut forecasts. The Australian Bureau of Statistics reported that the consumer price index increased by 1% in the quarter ending March, exceeding the market expectation of 0.8%. Year-over-year inflation slowed to 3.6% from 4.1%, still surpassing forecasts.
Equities rallied on tech strength, notching a second-straight daily gain underpinned by mostly better-than-expected quarterly earnings just ahead of the start of earnings from the Magnificent 7, with Tesla rocketing 8% higher in after hours trade
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