Stocks climb, yields fall as data supports view of rate cuts

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Key Points

NEW YORK (Reuters) Global stock indexes rose and Treasury yields fell on Friday as weaker-than-expected U.S. data underscored investor expectations of Federal Reserve interest rate cuts in the coming months...

The Dow Jones Industrial Average rose 37.71 points, or 0.10%, to 39,035.19, the S&P 500 gained 19.22 points, or 0.38%, to 5,115.49 and the Nasdaq Composite gained 81.28 points, or 0.50%, to 16,171.95...

The dollar gained against the Japanese yen after Bank of Japan (BOJ) governor Kazuo Ueda said it was too soon to declare victory on inflation, but the dollar was down against the euro...

Investors also were digesting comments on Friday from Fed Governor Christopher Waller, who said the Feds upcoming decisions about the ultimate size of its balance sheet has no bearing on the central banks inflation fight or changes to its policy interest rate...

The yield on benchmark U.S. 10-year notes fell 6.8 basis points to 4.184%, from 4.252% late on Thursday, while the 2-year note yield, which typically moves in step with interest rate expectations, fell 11.5 basis points to 4.5313%, from 4.646% late on Thursday...

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