- Germany into Nations League quarters, France and Italy win
- Nagelsmann lauds 'supercharged' Germany's 'best half of the year'
- 'Pandas are coming': Two new bears depart China for US capital
- Dodgers pitcher Kershaw plans to return for 2025
- Mbappe 'investigated for rape' in Sweden: report
- Revived Italy sweep past Israel in Nations League amid high security
- Trudeau slams India as tensions soar over Sikh separatist's murder
- Harris courts Black voters as Trump makes inroads
- Wall Street stocks hit fresh records as oil prices slide
- Nigerian team return home after boycotting AFCON qualifier in Libya
- Nigeria refuse to play in Libya as Algeria, Cameroon qualify
- Strike-hit Boeing leaves experts puzzled by strategy
- Leweling rockets Germany past Dutch and into Nations League quarterfinals
- Kolo Muani double fires France to win in Belgium
- Italy sweep past Israel in Nations League amid high security
- UN peacekeepers to 'stay in all positions' in Lebanon
- NASA launches probe to study if life possible on icy Jupiter moon
- 'Unique' Ronaldo an example to everyone, says Martinez
- New lawsuits against Sean Combs allege sex assault, including of minor
- Italy begins migrant transfers to Albania with first group of 16
- Google signs nuclear power deal with startup Kairos
- Carsley open to foreign England manager amid Guardiola links
- Pogba hungry to have his football cake after doping ban
- India and Canada expel top envoys in Sikh separatist killing row
- Mbappe says victim of 'fake news' after 'rape' report in Sweden
- Lebanon says 21 killed in strike on northern village
- Netanyahu vows no mercy after deadly Hezbollah drone strike
- Russia could be able to attack NATO by 2030: German intelligence
- EVs seek to regain sales momentum at Paris Motor Show
- Clarke backs Scotland to bounce back from 'tough' run
- Harris, Trump target crucial Pennsylvania as US vote looms
- NASA probe Europa Clipper lifts off for Jupiter's icy moon
- Lebanese Red Cross says 18 killed in strike in north
- Mendy borrowed money from Man City team-mates for legal fees
- Palestinian officials say Israeli forces kill two in West Bank
- Football leagues, unions file EU complaint against FIFA in calendar dispute
- Nigeria boycott AFCON qualifier in Libya after 'inhumane treatment'
- India to recall top envoy to Canada: foreign ministry
- Hezbollah, Israeli troops in 'violent clashes' after drone strike
- China insists won't renounce 'use of force' to take Taiwan as drills end
- Painkiller sale plan to US gives France major headache
- Italy begins landmark migrant transfers to Albania
- Russia jails French researcher for three years
- 'Unsustainable' housing crisis bedevils Spain's socialist govt
- Stocks shrug off China disappointment but oil slides
- New Zealand 4-0 up in America's Cup but British show signs of life
- Russian prosecutor demands 3 years prison for French researcher
- 'Innocent' British nerve agent victim caught in global murder plot: inquiry
- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
Stock markets jump as US inflation moderates
Stock markets rose strongly Tuesday as a key measure of US inflation slowed more than expected, raising hopes the Federal Reserve is done raising rates for the moment.
The US consumer price index (CPI) increased by 3.2 percent in the 12 months to October, down from 3.7 percent a month earlier, the Labor Department said in a statement.
Analysts had been expecting an increase of about 3.3 percent.
The moderating outlook for inflation sent both bond yields and the dollar lower, with the greenback now at its weakest level against the euro in two months.
The "market now says 'no more hikes'," said Neil Wilson, chief market analyst at Markets.com. "This may be premature, but the market has moved sharply to say that the Fed is now done."
While down sharply since the start of the year, annual inflation remains well above the Fed's two-percent target.
The Federal Reserve recently held its key lending rate at a 22-year high for a second consecutive meeting, leading some analysts and traders to predict it was done tightening monetary policy in order to avoid tipping the economy into recession.
But since then, a number of policymakers, including Fed Chair Jerome Powell, have indicated that they are prepared to hike rates again, if necessary, to bring price increases firmly down to target.
A number of upcoming speeches by Fed decision-makers will now be pored over in light of the latest inflation numbers.
"The softer CPI inflation data mean the market will have a harder time absorbing hawkish rhetoric from the Fed," said Jane Foley, head of foreign exchange strategy at Rabobank in London.
"Without further upside shocks to inflation, policymakers will have a hard time steering the market away from talk of rate cuts in 2024."
London stocks lagged increases elsewhere as official data showed UK wages rose faster than inflation, reigniting concerns that British interest rates could remain at multi-year highs for longer than thought, or even increase further.
Official data, however, is expected to reveal on Wednesday a sharp fall in British annual inflation.
Meanwhile, there are hopes that this week's upcoming meeting between US President Joe Biden and Chinese leader Xi Jinping could ease tensions between the economic superpowers, further comforting the markets.
- Key figures around 1345 GMT -
New York - Dow: UP 1.1 percent at 34,725.62 points
London - FTSE 100: UP 0.3 percent at 7,448.91
Paris - CAC 40: UP 1.3 percent at 7,177.43
Frankfurt - DAX: UP 1.6 percent at 15,585.25
EURO STOXX 50: UP 1.3 percent at 4,286.54
Tokyo - Nikkei 225: UP 0.3 percent at 32,695.93 (close)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 17,396.86 (close)
Shanghai - Composite: UP 0.3 percent at 3,056.07 (close)
Euro/dollar: UP at $1.0825 from $1.0701 on Monday
Dollar/yen: DOWN at 150.84 from 151.71 yen
Pound/dollar: UP at $1.2442 from $1.2280
Euro/pound: DOWN at 87.02 pence from 87.12 pence
Brent North Sea crude: UP 0.8 percent at $83.20 per barrel
West Texas Intermediate: UP 0.9 percent at $78.96 per barrel
L.Davis--AMWN