Following the US CPI print, the Dow Jones rose more than 1% at the open, the S&P 500 was up 0.8% and the Nasdaq was up 0.8%. Oracle (ORCL.N) jumped over 7% after Q1 revenue and profit beat expectations. Intel (INTC.O) rose about 1% and SK Hynix (SKHY.O) gained 1.5%.

President Trump told reporters he has proposed paying each U.S. citizen $5,000 as an "election bonus" if Republicans retain control of both the House and Senate after the midterms. He said the payment "would not need" congressional approval — "if it did, they would do it, but we don't think it's necessary" — and said it would be financed from tariff and other revenues the administration described as totaling tens of trillions of dollars. He added U.S. manufacturing and other investment now exceeds $20 trillion and said any payments must be spent within the United States.

POLISH CENTRAL BANK member KOTECKI said if inf persists above 4% Poland may raise interest rates.