(MENAFN) Worldwide share markets and Wall Street futures increased Thursday when lower oil costs aided to counterbalance worries on high inflation which the Federal Reserve assumed might need further U.S. interest rate hikes.
London and Frankfurt started higher. Shanghai, Tokyo and Hong Kong increased. Oil costs rose after reaching under USD100 a barrel this week.
Investors concerns aggressive U.S. and European rate hikes to limit increases of costs that are running at a four-decade high might reduce worldwide financial activity.
As asserted by Stephen Innes of SPI Asset Management “Stocks rose because runaway commodity and oil prices are sinking,” “Both are the critical targets Fed policy is engineered to tame; hence, inflation expectation is coming under control.”
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