- Indian duo self-immolate in Bhopal waste protest
- Indian food delivery app rolls out ambulance service
- Arsenal must 'flip coin' in Premier League title race, says Arteta
- European stock markets retreat after positive start to year
- World food prices dip 2% in 2024: FAO
- The horror of Saydnaya jail, symbol of Assad excesses
- Sabalenka sets up Brisbane semi against Russian teen Andreeva
- Top European diplomats urge inclusive transition in Syria visit
- Liverpool's Slot says Man Utd 'much better' than league table shows
- UK electricity cleanest on record in 2024: study
- Rampant Czechs set up United Cup semi-final against US
- Rohit omission from decisive Test 'emotional' says India's Pant
- Beijing slams US over potential Chinese drone ban
- Blinken to visit South Korea with eye on political crisis
- Vietnam's capital blanketed by toxic smog
- Top European diplomats in Syria for talks with leader Sharaa
- Andreeva, Dimitrov into Brisbane semis in contrasting fashion
- Australia in charge as Boland rips through Rohit-less India
- Biden to block US-Japan steel deal: US media
- Thai PM declares millions in watches and bags among $400 mn assets
- Kim Jong Un's sister seen with children in state media images
- China says 'determined' to open up to world in 2025
- South Korea begins lifting Jeju Air wreckage after fatal crash
- Top US Republican fights for future in cliffhanger vote
- Kohli out cheaply as Australia pin down India in fifth Test
- South Korea to lift Jeju Air plane tail after fatal crash
- Thunder stretch NBA win streak to 13 as Celtics edge T-Wolves
- Rested Hoge grabs one-shot lead in Hawaii
- Osaka into first semi-final since 2022 ahead of Australian Open
- US court blocks Biden-era net neutrality rules
- Asian shares rise defying slow Wall Street start to 2025
- Axing could be end for India's 'Hitman' Rohit in Test cricket
- 10 years after attack, Charlie Hebdo is uncowed and still provoking
- Iran artist's vision for culture hub enlivens rustic district
- 'Emilia Perez' heads into Golden Globes as strong favorite
- 'You need to be happy': graffiti encourages Cuban self-reflection
- Rohit-less India 57-3 as Australia assert early control in final Test
- Disaster-hit Chilean park sows seeds of fire resistance
- South Korea investigators in standoff to arrest President Yoon
- Philadelphia name South African Carnell as new head coach
- Vikings-Lions showdown to end season will decide NFC top seed
- Vegas Tesla blast suspect's motive unknown as death ruled suicide
- Allen and Goff to start NFL Pro Bowl Games as Mahomes snubbed
- Apple agrees to $95 mn deal to settle Siri eavesdropping suit
- South Korea investigators attempt to arrest President Yoon
- Tears, tourism on Bourbon Street after US terror nightmare
- Extradited SKorean crypto 'genius' in court to face US charges
- Venezuela offers $100,000 reward for exiled opposition candidate
- South Korea investigators arrive to attempt to arrest president
- Giannis and Jokic lead NBA All-Star voting with LeBron well back
Wall Street climbs as markets brace for possible govt shutdown
Wall Street stocks bounced higher Friday following a pullback in US Treasury yields as markets braced for a looming US government shutdown.
Data showed the personal consumption expenditures (PCE) price index rose 2.4 percent in the 12 months to November, up from 2.3 percent in October, the Commerce Department said in a statement.
But the reading came in lower than expected, prompting a pullback in US Treasury bond yields that had risen after Federal Reserve policy makers signaled earlier this week they expect fewer interest rate cuts in 2025.
Stocks fell sharply on Wednesday after the Fed decision.
But on Friday, the broad-based S&P 500 finished at 5,930.85, up 1.1 percent for the day but down about two percent for the week.
"We have seen a nice rebound from what was, in our view, an overreaction to the Fed's outlook on Wednesday," said Angelo Kourkafas of Edward Jones, pointing to Friday's inflation data as a supportive factor for equities.
Treasury yields pulled back following comments from Federal Reserve Bank of Chicago President Austan Goolsbee, who expressed confidence that the PCE data showed that inflation was returning to the Fed's target of two percent.
"Over the next 12 to 18 months, rates can still go down a fair amount," Goolsbee told CNBC.
Investors were also keeping watch on developments in Capitol Hill.
US lawmakers raced to stave off a government shutdown set to bite within hours after Donald Trump and Elon Musk sabotaged a bipartisan agreement that would have averted a shutdown.
If no deal is struck, the government will cease to be funded at midnight, and non-essential operations will start to grind to halt, with up to 875,000 workers furloughed and 1.4 million more required to work without pay.
European stocks finished the day lower although they cut their losses as Wall Street rebounded, with data showing tepid retail sales in the UK in the runup to Christmas dampening sentiment.
Among individual companies, Nike dipped 0.2 percent as it reported lower earnings while new CEO Elliott Hill outlined steps to get the slumping sports giant back on track. Analysts pointed to Nike's near-term outlook, which suggests a turnaround will not be quick.
Carnival jumped 6.4 percent following an upbeat 2025 forecast that included a 20 percent rise in profits to $2.3 billion.
- Key figures around 2150 GMT -
New York - Dow: UP 1.2 percent at 42,840.26 (close)
New York - S&P 500: UP 1.1 percent at 5,930.85 (close)
New York - Nasdaq Composite: UP 1.0 percent at 19,572.60 (close)
London - FTSE 100: DOWN 0.3 percent at 8,084.61 (close)
Paris - CAC 40: DOWN 0.3 percent at 7,274.48 (close)
Frankfurt - DAX: DOWN 0.4 percent at 19,884.75 (close)
Tokyo - Nikkei 225: DOWN 0.3 percent at 38,701.90 (close)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 19,720.70 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,368.07 (close)
Euro/dollar: UP at $1.0431 from $1.0363 on Thursday
Pound/dollar: UP at $1.2567 from $1.2502
Dollar/yen: DOWN at 156.45 yen from 157.44 yen
Euro/pound: DOWN at 82.98 pence from 82.28 pence
West Texas Intermediate: UP 0.1 percent at $69.46 per barrel
Brent North Sea Crude: UP 0.1 percent at $72.94 per barrel
burs-jmb/bgs
H.Romero--AT