- Lewandowski treble powers Liga leaders Barca to Alaves victory
- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
- Trump on the stump, Harris hits airwaves in razor-edge US election
- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
Global stocks push higher as US inflation shows signs of moderating
Global stocks pushed higher on Friday, with US indices snapping a slump of weekly losses, while oil prices rallied to their highest level in two months.
Following a positive day in European and Asian stock bourses, Wall Street stocks enjoyed another session entirely in positive territory, finishing higher for a third straight session.
It's been a blistering 2022 thus far for US equities as the Federal Reserve has launched aggressive steps to tighten monetary policy in response to inflation.
But the Dow finished at 33,212.96, up 1.8 percent for the day or 6.2 percent for the week. The index had posted weekly losses the last eight weeks.
"The market itself was oversold and we knew that we were overdue for a bounce," Quincy Krosby, chief equity strategist of LPL Financial.
A catalyst was Commerce Department data that showed the personal consumption expenditures (PCE) price index climbed 0.2 percent after several months of accelerating at more than twice that pace.
The data gives support to the argument from stock market bulls that the US economy is moving past -- or has progressed from -- a period of "peak inflation" -- indicating there will be less grim consumer price news in the months ahead.
The report also showed US personal income rose 0.4 percent in April compared to March, and consumers continued to increase spending.
"Encouragingly, the latest US personal spending data showed that US consumers were still inclined to spend money with a rise of 0.9 percent, which was slightly higher than markets had been expecting," said Michael Hewson at CMC Markets.
Meanwhile, oil prices also forged higher, with Brent futures ending up 1.7 percent at $119.43 a barrel. Analysts cited speculation of a compromise deal in the European Union to ban Russian crude imports.
Back in Asia, investors were in a buying mood as Hong Kong jumped more than two percent, with market heavyweight Alibaba piling on more than 11 percent and search engine Baidu advancing 15 percent.
The two firms posted better-than-expected sales growth in the January-March quarter, soothing fears about the impact of Covid and inflation on their bottom lines.
Hong Kong's tech index jumped nearly three percent, with other giants also enjoying buying interest with JD.com and Meituan sharply up.
The reports were much-needed pieces of good news out of the world's second-biggest economy, which is being battered by lockdowns in major cities as leaders refuse to budge from their zero-Covid strategy.
- Key figures at around 2100 GMT -
New York - Dow: UP 1.8 percent at 33,212.96 (close)
New York - S&P 500: UP 2.5 percent at 4,158.24 (close)
New York - Nasdaq: UP 3.3 percent at 12,131.13 (close)
London - FTSE 100: UP 0.3 percent at 7,585.46 (close)
Frankfurt - DAX: UP 1.6 percent at 14,462.19 (close)
Paris - CAC 40: UP 1.6 percent at 6,515.75 (close)
EURO STOXX 50: UP 1.8 percent at 3,808.86 (close)
Tokyo - Nikkei 225: UP 0.7 percent at 26,7781.68 (close)
Hong Kong - Hang Seng Index: UP 2.9 percent at 20,697.36 (close)
Shanghai - Composite: UP 0.2 percent at 3,130.24 (close)
Euro/dollar: UP at $1.0739 from $1.0725 on Thursday
Pound/dollar: UP at $1.2631 from $1.2600
Euro/pound: DOWN at 84.99 pence from 85.12 pence
Dollar/yen: DOWN at 127.09 yen from 127.12 yen
Brent North Sea crude: UP 1.7 percent at $119.43 per barrel
West Texas Intermediate: UP 0.9 percent at $115.07 per barrel
burs-jmb/mdl
L.Mesquita--PC