World stocks have advanced after U.S. stocks rallied to their best day since 2022 in Wall Street’s latest sharp swerve. U.S. futures rose while oil prices fell. The yen erased earlier loss in morning trading and extended its fourth consecutive day of gains against the dollar. Germany’s inflation in July rose, driven by the pressure on service prices. China also reported higher than forecast consumer inflation. On Thursday, the S&P 500 jumped 2.3%. The Dow Jones Industrial Average surged 1.8% and the Nasdaq composite gained 2.9%. Treasury yields also climbed, a signal that investors are feeling less worried about the economy, after a report showed fewer workers applied for unemployment benefits last week.
