The U.S. Treasury held a closely eyed $22 billion auction of 30-year bonds, and solid demand showed investors are still hungry for long-term government debt, despite policy uncertainty.

Argentina's monthly inflation rate slowed to its lowest level in more than five years in May, official data showed on Thursday, adding momentum to President Javier Milei's drive to rid the country of chronically soaring prices.

Consumer prices rose 2.4% over the year, and the month-over-month increase was lower than expected.

U.S. inflation picked up a bit last month as higher prices for groceries and some imported goods were largely offset by cheaper gas, travel services, and rents.

Inflation is expected to accelerate in the coming months on the back of the Trump administration's import tariffs.

Despite widespread fears to the contrary, President Donald Trump’s tariffs have yet to show up in any of the traditional data points measuring inflation

The stock market continued to grind higher in Thursday afternoon trading as the S&P 500 moved another step closer to its Feb. 19 record close. The market benchmark was up 0.3%, just about 1.7% below its highest close on record of 6144.

Argentina's monthly inflation rate cooled to its lowest level in more than five years in May, official data showed on Thursday, adding momentum to President Javier Milei's drive to rid the country of chronically soaring prices.