The demand for silver in green energy is growing in Asian countries. Inflation expectations are rising in Australia.

The Dow Jones (US30) was down 0.50% at the end of Wednesday. The S&P500 Index (US500) was down 0.27%. The Nasdaq Technology Index (US100) was up 0.12%. The US stocks ended Wednesday mostly lower after January’s Consumer Price Index data came in above expectations and heightened inflation concerns amid rising yields on long-dated Treasuries. The Consumer Price Index rose 0.5% in January, bringing the annualized inflation rate to 3%, which reduced the likelihood of the Federal Reserve cutting rates soon and increased speculation of a possible rate hike. However, comments from House Speaker Mike Johnson on rate relief provided some support to sentiment and helped limit the broader market’s losses. Markets rate the odds of a 25bp rate cut at the next FOMC meeting on March 18–19 at 2%.

Earnings season is in full swing with companies reporting Q4 results. According to Bloomberg data, more than 330 stocks in the S&P 500 reported earnings and 77.6% of them beat estimates, just below the 3-year average of 78.4%.

Equity markets in Europe were mostly up Wednesday. Germany’s DAX (DE40) rose by 0.50%, France’s CAC 40 (FR40) closed higher by 0.17%, Spain’s IBEX 35 (ES35) added 1.07%, and the UK’s FTSE 100 (UK100) closed up 0.34%. Shares of the largest companies in the group LVMH, Hermes, L’Oréal and Schneider Electric lost between 1 and 2.3%, driven by expectations of a prolonged rise in US borrowing costs following the release of better-than-expected inflation data.

WTI crude oil prices held near $71.20 per barrel on Thursday as investor sentiment remained subdued following talks between US President Donald Trump and Russian President Vladimir Putin. The two leaders agreed to begin talks aimed at ending the ongoing war in Ukraine, prompting speculation that the decision could reduce supply risks from one of the world’s biggest oil exporters.

China will commission 357 gigawatts of solar and wind power in 2025, a major use of industrial silver. Also on the solar front, India’s Oil and Natural Gas Corp has pledged to invest 1 trillion Indian rupiah in wind and solar power by the end of the decade, and Indonesia has pledged to add 17 gigawatts of solar power through state-owned enterprises.

Asian markets were mostly down yesterday. Japan’s Nikkei 225 (JP225) was up 0.42%, China’s FTSE China A50 (CHA50) increased by 1.10%, Hong Kong’s Hang Seng (HK50) added 2.64% and Australia’s ASX 200 (AU200) was positive 0.60%.

In Australia, expectations for Consumer Inflation rose to a ten-month high of 4.6% in February, up from 4% in January. Despite this, markets still expect that the Reserve Bank of Australia may start cutting interest rates next week.

Two-year inflation expectations in New Zealand fell to 2.06% in Q1 from 2.12% in Q4 2024, while one-year expectations rose to 2.15% from 2.05%. Investors continued to speculate about further RBNZ rate cuts ahead of next week’s policy meeting, following three cuts last year that reduced borrowing costs to 4.25%