In Asian Equity Markets stocks rose in early trade on Friday after China cut a key lending benchmark to support a slowing economy, but a gauge of global equities remained set for its longest weekly losing streak on record amid investor worries about sluggish growth. MSCI’s broadest index of Asia-Pacific shares outside Japan quickly built on early gains after the cut, and was last up 1.4 percent. Chinese blue-chips were 1.1 percent higher in early trade and Hong Kong’s Hang Seng index jumped more than 2 percent, while Australian shares rose 1.3 percent. In Tokyo, the Nikkei stock index gained 1 percent.

In Currency Markets the U.S. dollar headed for its worst week since early February against major peers on Friday, weighed down by a retreat in Treasury yields and fatigue after the currency’s breathless 10 percent, 14-week rise. The dollar index was down 1.5 percent for the week to 102.96. The Swiss franc headed for its best week since March 2020, with the dollar falling 2.9 percent over the period to last trade at 0.97265 franc. The euro edged 0.07 percent lower on Friday to $1.05735, but was still on course for a 1.55 percent weekly gain. Sterling fell 0.07 percent to $1.24615.

In US Equity Markets stocks ended lower after a volatile session on Thursday, with Cisco Systems falling after giving a dismal outlook, while investors fretted about inflation and rising interest rates. The S&P 500 declined 0.58 percent to end the session at 3,900.79 points. The Nasdaq declined 0.26 percent to 11,388.50 points, while the Dow declined 0.75 percent to 31,253.13 points. The S&P consumer staples index fell 2 percent to its lowest level since December as retail firms face the brunt of rising prices hurting the purchasing power of U.S. consumers.

In Commodities Markets oil prices rebounded from two days of losses in a volatile session on Thursday, bolstered by weakness in the dollar and expectations that China could ease some lockdown restrictions that could boost demand. Brent crude futures for July settled at $112.04, a gain of 2.7 percent. U.S. WTI crude futures for June settled up 2.4 percent, to $112.21 a barrel. Spot gold jumped 0.9 percent to $1,830.99 per ounce. In other metals, spot silver gained 1.7 percent to $21.75 per ounce, and platinum was up 0.5 percent at $939.94, while palladium fell 1.1 percent to $1,994.88.

In European Equity Markets stocks fell 1.5 percent on Thursday, stretching declines to the second straight session, as dismal results from big U.S. retailers underlined the hit from rising inflation on the world’s biggest economy. Tracking U.S. peers, European retailers fell nearly 2 percent and were the biggest drags on the pan-European STOXX 600 index, which extended declines after a 1 percent slide on Wednesday. European retailers such as Tesco and Sainsbury had also warned last month of a hit to full-year profits from rising prices.

In Bond Markets U.S. Treasury yields fell on Thursday, with those on benchmark 10-year notes sliding to three-week lows, as continued softness in U.S. economic data fueled growth concerns amid aggressive monetary tightening by the Federal Reserve. U.S. 10-year yields fell to 2.772 percent, the lowest since late April, and was last down 3.3 basis points at 2.851 percent. U.S. 30-year yields were also lower, declining to a one-week trough of 2.975 percent. U.S. two-year yields were also weaker on the day, down 5.5 bps at 2.603 percent.