Stocks rise, dollar falls as soft US jobs data fuels rate cut bets

MSCI's global equities gauge hit a record high on Thursday while US Treasury yields fell along with the dollar due to growing expectations for interest rate cuts, as softer labour market data overshadowed a higher-than-expected US inflation reading. The Consumer Price Index increased by 0.4% in August, the most in seven months and following a 0.2% rise in July, driven by a 0.4% jump in housing costs and a 0.5% increase in food prices. The cost of food consumed at home jumped 0.6%. But in a separate report, the Labor Department said initial claims for state unemployment benefits jumped 27,000 to a seasonally adjusted 263,000 for the week ended Sept 6, which was the highest level since October 2021 and...