- China tees up fresh spending to boost ailing economy
- China says will issue special bonds to boost ailing economy
- China offers $325 bn in fiscal stimulus for ailing economy
- Dodgers drop Padres 2-0 to advance in MLB playoffs
- Alexei Navalny wrote he knew he would die in prison in new memoir
- Last-minute legal ruling allows betting on US election
- Despite hurricanes, Floridians refuse to leave 'paradise'
- Israel observes Yom Kippur amid firestorm over Lebanon strikes
- Trump demonizes migrants in dark, misleading speech
- X says 'alert' to manipulation efforts after pro-Russia bots report
- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
Hot US inflation report stops Wall Street stocks rebound
A larger-than-expected rise in US wholesale prices Friday rekindled worries over the timing of interest rate cuts and brought a halt to Wall Street's recent rebound.
Markets had shuddered after data released on Tuesday showed US consumer price inflation slowed less than expected in January, dealing a blow to hopes of an early interest rate cut by the US Federal Reserve.
But equities quickly rebounded, with data showing a larger-than-expected 0.8-percent decline in US retail sales for January reassuring markets that the economy isn't running too hot.
But January's 0.3 monthly gain in US wholesale prices was higher than the 0.1 percent gain expected by analysts, and compares to a 0.1 percent drop in December.
Excluding volatile food and energy prices, the gain was 0.6 percent in January and 2.6 percent over the year.
"Whether the market chooses to dismiss this report as a function of seasonal adjustment factors, the fact of the matter is that the Fed isn't going to dismiss it, and will see it as a reason to remain patient with respect to cutting rates," said Briefing.com analyst Patrick O'Hare.
Wall Street stocks opened little changed, with the Dow dipping 0.2 percent but the broader S&P 500 and tech-heavy Nasdaq Composite flat.
Meanwhile, the dollar rose against its major rival currencies, while US bond yields also rose on the prospect the Fed would hold off longer on cutting interest rates.
Europe's stocks rallied Friday, with Frankfurt and Paris striking more record peaks after solid Asian gains, as investors shrugged off recessions in Britain and Japan.
London equities also jumped as investors drew comfort from a January rebound in UK retail sales, one day after gloomy news that Britain has entered recession.
UK retail sales volumes surged 3.4 percent in January, the fastest increase in almost three years, after sliding 3.3 percent in December, official data showed.
Sentiment was buoyed also by a jump in annual net profit at NatWest, which sent the UK bank's share price up almost six percent.
In Asia, Tokyo's Nikkei index ended at a new 34-year high, partly supported by the Wall Street rally on Wednesday and Thursday, including in tech shares.
Japan also entered recession at the back end of 2023, according to data released Thursday, with the Asian nation being overtaken by Germany as the world's third-biggest economy.
- Key figures around 1430 GMT -
New York - Dow: DOWN 0.2 percent at 38,715.16 points
New York - S&P 500: FLAT at 5,028.36
New York - Nasdaq Composite: FLAT at 15,908.16
London - FTSE 100: UP 1.3 percent at 7,698.95
Paris - CAC 40: UP 0.3 percent at 7,769.30
Frankfurt - DAX: UP 0.4 percent at 17,121.12
EURO STOXX 50: UP 0.4 percent at 4,762.62
Tokyo - Nikkei 225: UP 0.9 percent at 38,487.24 (close)
Hong Kong - Hang Seng Index: UP 2.5 percent at 16,339.96 (close)
Shanghai - Composite: Closed for holiday
Euro/dollar: DOWN at $1.0750 from $1.0772 on Thursday
Dollar/yen: UP at 150.57 yen from 149.93 yen
Pound/dollar: DOWN at $1.2561 from $1.2600
Euro/pound: UP at 85.58 pence from 85.49 pence
Brent North Sea Crude: UP 0.3 percent at $83.10 per barrel
West Texas Intermediate: UP 0.8 percent at $78.66 per barrel
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X.Karnes--AMWN