Global stocks rising on renewed hope of softer rate hikes

📆 03/03/2023 07:40 م
📰 CTVNews

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U.S. futures and global stock markets advanced Friday after a Federal Reserve official raised hopes the U.S. central bank may not be as aggressive with rate hikes as much as feared despite sticky inflation.

Futures for the Dow Jones Industrial Average inched up 0.2% before the bell and futures for the S&P 500 rose 0.3%.

In midday trading in Europe, the FTSE 100 in London rose 0.1%, the DAX in Frankfurt advanced 1.1% and the CAC 40 in Paris gained 0.8%. The Hang Seng in Hong Kong gained 1.2% to 20,555.46 and the Kospi in Seoul was 0.2% higher at 2,432.07. The dollar declined to 136.25 yen from Thursday's 136.76 yen. The euro gained to $1.0607 from $1.0590.

Investors also are cutting expectations of U.S. corporate profits due to warnings that inflation and interest rates might cool consumer demand. The Nikkei 225 in Tokyo gained 1.6% to 27,934.01 after Japan's unemployment rate edged lower in January.

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