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| - Asian and European stock markets mostly rose Tuesday and the US was mixed at the open after a strong consumer inflation reading, while bitcoin powered to a record peak on the eve of a key IPO. The Dow Jones fell 0.5 percent and the tech-heavy Nasdaq added 0.7 percent, after the Labor Department said consumer prices added 2.6 percent in the 12 months to March. "Equities just seem to be welcoming any kind of risk event being put in the rearview mirror," SPI analyst Stephen Innes commented. With US markets looking ahead to corporate earnings data, "the key question is whether growth optimism will be replaced by inflationary concerns and taper tantrums" if the Federal Reserve moves to keep price growth in check, Fawad Razaqzada of Think Markets said. "If we do now see more signs of the US economy heating up, then there could be a noticeable change in tone from the Fed," Razaqzada warned. At the same time, "talks about corporate tax hikes to pay for the cost of stimulus" from Washington mean "things could unravel on Wall Street soon". "All it takes is a few people to start selling to get the ball rolling," Razaqzada added. Meanwhile in afternoon eurozone trading Paris and Frankfurt climbed, chasing much of Asia higher. But London was down slightly despite news of Britain's advancing economic growth and rebounding EU exports in February. European "optimism is largely being held in check as news on a pause in JNJ's single dose vaccine in the US has added a measure of caution," Charles Schwab analysts commented, referring to the stock symbol for Johnson & Johnson pharmaceuticals. Bitcoin zoomed to a record high above $63,000 as the cryptocurrency exchange Coinbase prepares to launch shares on Wall Street's Nasdaq index. After falling back in the afternoon, the virtual unit was trading at $62,675, a huge gain of 116 percent since the start of the year. "A good debut for Coinbase in Nasdaq will mark the first official juncture between the traditional financial avenue and the alternative crypto path," said Swissquote analyst Ipek Ozkardeskaya. "As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors." Stock markets meanwhile remain preoccupied by inflationary concerns. Higher producer and consumer inflation readings have given markets a taste of what to expect over the next few months as the global economy emerges from last year's crisis and vaccinations allow people to slowly return to their pre-pandemic habits. There are growing fears that reopenings will send prices surging this year and force central banks to tighten the ultra-loose monetary policies -- including rock-bottom interest rates -- that have helped fire a year-long equity rally. The Federal Reserve has repeatedly pledged not to change tack until inflation is elevated for some time and unemployment is under control. Those worries have sent benchmark 10-year Treasury yields -- a gauge of future borrowing costs -- to one-year highs. The smooth sale of government bonds Monday soothed some concerns. Observers also remain cautious as they wait for the US earnings season to crank into action. "Investors are likely to be sitting cautiously ahead of the next US earnings season which kicks off in earnest tomorrow with numbers from JPMorgan Chase and Wells Fargo, followed by Bank of America, Citigroup and PepisCo on Thursday," said AJ Bell investment director Russ Mould. New York - Dow: DOWN 0.5 percent at 33,555.36 points London - FTSE 100: DOWN 0.1 percent at 6,882.29 Paris - CAC 40: UP 0.2 percent at 6,176.29 Frankfurt - DAX 30: UP 0.2 percent at 15,249.41 EURO STOXX 50: UP 0.1 percent at 3,967.34 Tokyo - Nikkei 225: UP 0.7 percent at 29,751.61 (close) Hong Kong - Hang Seng Index: UP 0.2 percent at 28,497.25 (close) Shanghai - Composite: DOWN 0.5 percent at 3,396.47 (close) Euro/dollar: UP at $1.1938 from $1.1911 at 2100 GMT Pound/dollar: UP at $1.3744 from 1.3741 Euro/pound: UP at 86.87 pence from 86.68 pence Dollar/yen: DOWN at 109.19 yen from 109.38 yen Brent North Sea crude: UP 0.9 percent at $63.87 per barrel West Texas Intermediate: UP 0.9 percent at $60.22 per barrel burs-tgb/mjs
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