Home Economy World stocks steady after flip-flopping week

World stocks steady after flip-flopping week


LONDON (Reuters) – World stocks steadied on Friday after a volatile week, taking their lead from a stronger Wall Street as U.S. data tempered inflation fears, while the dollar approached three-month lows on reduced bets of early Federal Reserve rate hikes.

FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China April 16, 2018. REUTERS/Stringer

Inflation worries have spooked markets after recent data, and Fed minutes on Wednesday suggested a possible change in policy towards tapering bond purchases.

But on Thursday the Philadelphia Federal Reserve Bank said its business activity index fell to 31.5 in May from 50.2 in April, casting doubt on how fast the U.S. economy can continue to heat up.

Other data on Thursday showed U.S. jobless rolls swelled in early May, which could dampen expectations for an acceleration in employment growth this month, even though the number of…

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