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Global stock markets were mostly higher overnight. U.S. stock indexes are headed for higher openings when the New York day session begins, on follow-through buying from Thursday's strong gains. The S&P 500 stock index hit a two-month high overnight and the Nasdaq index notched a six-week high. Stock market bulls are still basking in the glow of a slightly cooler U.S. inflation reading released Thursday morning. The consumer price index report for October came in up 7.
Also somewhat bullish for stock and commodity markets are reports China is easing up a bit on some of its strict Covid restrictions. In overnight news, the Euro zone has forecast its inflation rate for 2022 at 8.5%, year-on-year, and at 6.1% in 2023.U.S. economic data due for release Friday is light and includes the University of Michigan consumer sentiment survey.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »