NEW YORK World shares rose on Thursday and the US dollar fell lower on Thursday after minutes from the US Federal Reserve'sFederal Reserve's May meeting indicated that the central bank would remain flexible and might pause rate hikes later in the year.
Wall Street closed higher with three main US indices positioned for their biggest weekly gains since mid-March.
The MSCI's benchmark for global stocks was up 1.54 percent at 4:25 pm EDT 2025 GMT. Europe's pan-regional STOXX 600 equity benchmark index rose 0.78 percent, while the broadest index of Asia-Pacific shares outside Japan fell 0.02 percent.
The Dow Jones Industrial Average DJI increased by 516.91 points, or 1.61 percent, to 32,637, according to the Dow Jones Industrial Average. The S&P 500 SPX increased by 79.11 points, or 1.99 percent, to 4,057 on 19 November. 84, and the Nasdaq Composite IXIC added 305.91 points, or 2.68 percent, to 11,740. The three indexes were on track to snap their longest streak in decades of weekly declines.
The minutes of the Fed's May meeting released on Wednesday showed that a majority of Fed officials supported the well-telegraphed rate hikes of 50 basis points each in June and July.
Analysts at the Bank of America said the Fed could pause its tightening in September if the economy deteriorates.
The number of Americans filing new claims for unemployment benefits fell more than expected last week, as the labor market was tight. Brian Overby, senior options analyst at Ally said Jobs data is going to be a big factor in the outlook of the Fed going forward. If the unemployment rate increases a bit, that could slow them down. The US dollar fell 0.284 percent against a basket of global currencies. If the Fed gets less aggressive on tightening, that would weaken the greenback's safe-haven appeal.
The euro was up 0.44 percent to $1.0727.
The US Treasury yields went up after the benchmark 10 year note hit a six week low, with signs of slower economic growth reducing inflation fears.
The yield on 10 year Treasury notes rose by 2.7416 percent after falling to 2.706 percent early in the session.
Clark Kendall, president and CEO of Kendall Capital said the treasury was almost at 3 percent and has pulled back after a 10 year period. The market feels like the Fed is addressing the inflation problem. Brent futures rose by $3.37, or 3.0 percent, to settle at $117.40 a barrel, while US West Texas Intermediate crude rose $3.76, or 3.4 percent, to settle at $114.09.
The US gold futures were up 0.17 percent to $1,849.