Fed hopes buoy shares, China COVID easing boosts oil

Published by
Reuters UK

By Huw Jones LONDON (Reuters) – A relief rally in global shares entered a second day on Friday and the dollar dipped as investors bet that peaking U.S. inflation will prompt the Federal Reserve to ease the pace of interest rate hikes. Oil prices jumped after health authorities in top global crude importer China eased some of the country’s heavy COVID curbs. The S&P 500 and Nasdaq racked up their biggest daily percentage gains in over 2-1/2 years on Thursday after U.S. data showed prices rose less-than-expected in October. On Friday, the MSCI all country stock index was up 1%, taking it back to…

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