The most recent US consumer price report is anticipated to be a game-changer, but global markets don’t appear to be concerned by the buoyancy of US and global equities at all-time highs and the quiet Treasury and interest rate markets. On Wednesday, the SP500 gained 1%, breaking beyond 5,600 for the first time, and Taiwan’s TSMC reached a record high.

On Friday, big banks officially begin the second quarter of the US earnings season.

Ahead of the government plenum scheduled for next week, equity markets in Europe and Asia saw a surge, with even China’s CSI300 spotting an uncommon break.

At the Communist Party leadership meeting, initiatives to support advanced manufacturing, reduce debt risks through tax system revisions, handle a massive real estate crisis, and increase domestic demand are anticipated to be discussed.

The China Securities Regulatory Commission’s decision to further restrict short-selling most likely served as the catalyst for Thursday’s increase.

The euro was rising and had reached its strongest level in over a month, while the dollar surged to its highest point in four months.

With pressure mounting on President Joe Biden to resign before of November’s presidential election, the spotlight was on contentious U.S. politics.