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Stock market today: Asian shares are mixed, Chinese markets decline, after rally on Wall St
@Source: financialpost.com
It’s the second large deal in the sector in less than a week, with QXO Inc. announcing on Thursday that it was buying Beacon Roofing Supply Inc. in a deal worth about $11 billion, including debt.
Wall Street has several economic updates this week. Business group The Conference Board releases its consumer confidence survey for March on Tuesday. On Friday, the U.S. government releases the personal consumption expenditures price index for February, a measure of inflation closely watched by the Federal Reserve.
The Fed started cutting its benchmark interest rate at the end of 2024 but is cautious about inflation, which is just above its 2% goal. Those cuts came after the central bank raised interest rates in order to cool inflation from a two-decade high.
Lower interest rates can ease borrowing costs and help give the economy a boost, but they can also push inflation higher.
In other dealings early Tuesday, U.S. benchmark crude oil was unchanged at $69.11 per barrel. Brent crude, the international standard, also was unchanged, at $72.37 per barrel.
The U.S. dollar fell to 150.56 Japanese yen from 150.70 yen. The euro rose to $1.0808 from $1.0803.
AP Business Writers Matt Ott, Damian J. Troise and Alex Veiga contributed.
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