Global stocks push higher as US inflation shows signs of moderating – Daily Times

Global stocks pushed higher on Friday, with US indices snapping a slump of weekly losses, while oil prices rallied to their highest level in two months. Following a positive day in European and Asian stock bourses, Wall Street stocks enjoyed another session entirely in positive territory, finishing higher for a third straight session.

It’s been a blistering 2022 thus far for US equities as the Federal Reserve has launched aggressive steps to tighten monetary policy in response to inflation.

But the Dow finished at 33,212.96, up 1.8 percent for the day or 6.2 percent for the week. The index had posted weekly losses the last eight weeks. “The market itself was oversold and we knew that we were overdue for a bounce,” Quincy Krosby, chief equity strategist of LPL Financial.

A catalyst was Commerce Department data that showed the personal consumption expenditures (PCE) price index climbed 0.2 percent after several months of accelerating at more than twice that pace. The data gives…

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