- Crude oil prices jump 3% on China demand hopes
- Wall Street gains for second day after big rally
- Dollar faces biggest two-day drop in nearly 14 years
- U.S. bond markets closed for Veterans Day
NEW YORK/LONDON, Nov 11 (Reuters) – Global stocks rose on Friday for a second day on hopes that signs U.S. inflation is cooling means less aggressive interest rate hikes from the Federal Reserve, an outlook that has the dollar facing its biggest two-day drop in almost 14 years.
Oil prices jumped after health authorities in top global crude importer China eased some of the country’s heavy COVID curbs, raising hopes for improved economic activity and demand in the world’s top crude importer.
In another sign that the Fed would be less hawkish about hiking rates going forward due to the better-than-expected report on U.S. consumer prices, gold prices rose to a near three-month high and headed to their best week since July 2020.
On Wall Street, stocks…
