Stocks rise on tame inflation outlook, dollar eases

Stocks rise on tame inflation outlook, dollar eases

Other data showed new orders for USA -made capital goods increased by the most in six months in January and shipments also rose, but business spending on equipment remained soft, leaving forecasts for weak first-quarter economic growth intact. It tumbled as much as 1.1% versus the dollar as Attorney General Geoffrey Cox said the risks surrounding the Irish backstop - a major sticking point for those who support Brexit - were unchanged.

Asian shares stumbled on Thursday after Chinese data signaled further weakness in the world's second-biggest economy while the pound eased off nine-month highs ahead of another Brexit vote.

NEW YORK, March 13 (Reuters) - World equity markets broadly rose on Wednesday, lifted by investor optimism that British lawmakers will rule out a no-deal Brexit and fresh USA data that highlighted a strong economy with low inflation, an outlook that weakened the dollar. Britain's parliament voted against the risk of a "no-deal" Brexit, 24 hours after a second defeat for Prime Minister Theresa May's divorce agreement left Britain heading into the unknown.

The state of U.S.

British lawmakers are widely expected to vote on Thursday to delay Britain's departure from the European Union, now scheduled for March 29. The price of oil, one of Canada's major exports, rose as US crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world's top producer was revised lower.

USD/JPY: The U.S. dollar dipped against the yen on Wednesday, as tepid U.S. economic data reinforced views the Federal Reserve would be patient on monetary policy. The producer-price data "is further evidence that the Fed's more patient approach should provide support for risk assets, at least for now".

The euro increased 0.4 percent to $1.1337, the strongest in a week. The U.S. central bank's rate-setting committee will issue its next policy statement following its March 19-20 meeting.

The U.S. dollar bought 111.03 Japanese yen, lower than 111.27 Japanese yen of the previous session.

Boeing gained in early trade for the first time since Sunday's crash of a 737 MAX 8 jet in Ethiopia, but the shares later retreated after first Canada and then the United States said they were grounding 737 MAX jets, following steps already taken by Europe and other nations.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent after treading water for most part of the day.

The greenback had taken a knock as the pound jumped more than 2 percent after British lawmakers voted against a potentially disorderly "no-deal" departure from the European Union.

Dow Jones closed up by 0.58 percent, S&P 500 ended up 0.69 percent, Nasdaq finished the day up by 0.69 percent. Shares fell 3.0 percent.

In late NY trading, the euro was up to 1.1329 US dollars from 1.1296 dollars in the previous session, and the British pound rose to 1.3217 dollars from 1.3084 dollars in the previous session.

The dollar fell and 10-year Treasury yields turned negative after core inflation cooled.

USA 30-year bond yields were up at 3.011 percent from 2.99 percent on Tuesday.But yields on both 10-year notes and 30-year bonds have fallen in six of the last eight sessions.

Oil futures rallied more than 1 percent as an unexpected drop in USA crude inventory and a forecast of slower-than-expected supply growth from the world's top crude producer boosted prices.

US crude rose $1.08 to $57.95 per barrel and Brent added 51 cents to $67.18.

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