U.S. futures and European shares fell early Wednesday after Germany announced restrictions that prevent traders from betting against some government debt securities and financial shares.
The cost of living in the U.S. unexpectedly dropped in April for the first time in more than a year, signaling the economy is recovering without pushing prices higher. The Labor Department said the CPI fell 0.1%, while the core-rate remained unchanged. Consumer price inflation remains tame, which gives the Fed plenty of leeway to keep rates low in an effort to further stimulate the economy.
Elsewhere, the expiration of second-round housing stimulus pulled sales into March and April at the heavy expense of May. The Mortgage Bankers Association’s purchase index fell 27.1% last week. These results point to a very weak home sales number for the month.
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