Global stock markets are experiencing mixed signals as investors digest new economic data and geopolitical developments. U.S. inflation figures have surpassed expectations, sparking concerns about potential delays in Federal Reserve interest rate cuts. Meanwhile, diplomatic efforts and economic indicators are influencing trading patterns across Asia and Europe.

The S&P 500 closed lower after U.S. inflation data came in hotter than anticipated, raising fears of prolonged high interest rates. However, CVS Health and Gilead Sciences saw gains following strong quarterly results. U.S. stock futures showed modest gains on Thursday, recovering slightly from Wednesday’s losses.

In Asia, Indian stock markets demonstrated resilience, with the Nifty recovering 250 points from its intraday low. Investors are closely monitoring Prime Minister Modi’s diplomatic visit to the U.S., which is expected to address key strategic issues. Meanwhile, Australian markets opened slightly higher, and futures for Japanese and Hong Kong indices rose.

The U.S. dollar held near a one-week high against the Japanese yen following the inflation shock, while the euro gained support from news of potential peace talks between the U.S. and Russia regarding the Ukraine conflict. Gold prices also edged higher as investors awaited further U.S. inflation data and monitored trade tensions.