Stock market today: Global shares follow Wall St higher on hopes for an end to Fed rate hikes

HONG KONG — World shares advanced on Friday after Wall Street roared higher on bets that market-rattling interest rate hikes are coming to an end.Germany’s DAX gained 0.3% to 15,184.05 and the CAC 40 in Paris added 0.2% to 7,076.01. Britain’s FTSE 100 was up 0.2% at 7,464.21.

The S&P 500 leaped 1.9% Thursday in its fourth straight winning day and is already up 4.9% this week. The Dow Jones Industrial Average jumped 1.7% and the Nasdaq composite climbed 1.8%.Hong Kong’s Hang Seng added 2.6% to 17,687.00, while the Shanghai Composite gained 0.7% to 3,030.80. Tokyo markets were closed for a holiday.

Longer-term Treasury yields fell. The yield on the 10-year Treasury remained at 4.67% early Friday from more than 5% last week, when it reached its highest level since 2007. A separate report said slightly more U.S. workers applied for unemployment benefits last week than expected. That’s bad news for those workers, but a cooler job market also could relieve price pressures.

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