Key Points
NEW YORK (Reuters) -Global stock markets rose while the U.S. dollar hit a near five-month low on Friday after data showed that annual U.S. inflation slowed further below 3% in November, supporting the view that the Federal Reserve could cut borrowing costs next year...
The data is the last major release this year, and many investors are expected to be away between Mondays Christmas Day holiday and New Years Day.. Stock investors have cheered recent signs from the Fed on the outlook for rates..
But the core being below expectations and the top line also being below expectations is positive for the market, indicative that inflation is declining, said Tim Griskey, senior portfolio strategist at Ingalls & Snyder in New York...
The Dow Jones Industrial Average rose 31.5 points, or 0.08%, to 37,435.85; the S&P 500 gained 13.26 points, or 0.28%, to 4,760.01; and the Nasdaq Composite added 37.34 points, or 0.25%, to 15,001.21...
The dollar also weakened to a near nine-year low against the Swiss franc and was last down 0.15%, back to January 2015 levels when the Swiss National Bank sparked significant volatility by discontinuing its policy of having a minimum exchange rate for the franc against the euro...
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