US inflation rises to its highest in three years

The latest CPI figures show prices rose by 4.2 percent last month, their highest level in three years. This has sent US stocks lower as they digest the data. Julian Koski, Chief Investment Officer at New Age Alpha, explains market sentiment amid rising inflation.

Elsewhere, the US and Iran have exchanged strikes, with both sides threatening further action. Investors do not appear too concerned about the latest developments, with oil prices remaining steady. Wall Street is, however, eagerly anticipating the biggest IPO in history, as SpaceX prepares to list on the Nasdaq on Friday, with reports claiming it is massively oversubscribed.

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