World stocks rally, dollar dips as investors weigh spending data, inflation scares

  • Global markets firmer
  • Chinese economy slowed sharply in Q2
  • U.S. yields, dollar pull back after Fed officials’ comments

July 15 (Reuters) – Global equities climbed on Friday, while the dollar dipped and oil rose as investors reduced their expectations of an aggressive interest rate hike by the Federal Reserve this month and as U.S. spending data beat forecasts.

Investors still face concerns that the world economy is headed for recession as central banks rush to get on top of galloping inflation, with steep interest rate rises seen this week in Canada, New Zealand, Chile, South Korea and the Philippines. Many are also still digesting an easing of Italy’s political crisis.

Fears of an economic downturn were fanned on Friday by Chinese data showing annualized 0.4% growth in the second quarter, the worst since at least 1992, excluding early 2020 when the COVID pandemic erupted. read more

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