Stock market today: Asia markets higher ahead of US inflation, Fed rates decision

JOE McDONALD

Updated 13 June 2023 at 2:38 am

Stock market today: Asia markets higher ahead of US inflation, Fed rates decision

Asian stock markets were mostly higher Tuesday ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike. Wall Street's benchmark S&P 500 index rose 0.9% to a 14-month high ahead of the release of U.S. inflation figure Tuesday. Forecasters expect it to show inflation eased in May but still was double the Fed's 2% target despite interest rate hikes to cool business activity.

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