U.S. small-business confidence increased in April and the share of owners planning to raise prices was the smallest in a year, but persistent labor shortages continued to exert cost pressures for owners, a survey showed on Tuesday.
U.S. producer prices increased more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained elevated early in the second quarter.
Asian stocks rose on Wednesday while the dollar drifted lower as traders weighed mixed US producer price data and braced for the crucial consumer price report later in the day that is likely to influence the Federal Reserve's (Fed) near-term policy path.
Oil prices rose in Asian trade on Wednesday as industry data showed a drop in U.S. inventories and boosted expectations of tighter supplies, although anticipation of key inflation data kept gains limited.
The dollar traded near a one-month low versus the euro on Wednesday amid lower Treasury yields as traders braced for a key U.S. inflation report later in the day that could dictate the path of Federal Reserve policy.
U.S. stock indexes were a mixed bag on Monday, with the S&P 500 staying shy of its March record high as investors waited for key inflation readings and earnings reports due this week while a survey showed consumers concerned about inflation.