US and European stocks rise, Asian stocks fall
The European Central Bank decided to extend its stimulus program
New York — US stocks followed Europe higher on Friday while the euro weakened against the dollar after the European Central Bank’s Thursday decision to extend its stimulus program. US Treasury yields climbed with benchmark yields on track for a fifth straight week of increases following stronger-than-forecast Chinese inflation data and ahead of $56 billion of coupon-bearing government bond supply next week. European shares hit their highest level since January, and were set for their best week since February, following the ECB’s decision to cut monthly bond buys to 60 billion euros from 80 billion euros and extend purchases to December — three months longer than analyst forecasts. Stocks were helped by inflation data from China, rising prices of some commodities and general optimism after the ECB decision and before a US Federal Reserve statement due out on Wednesday, according to Frances Hudson, global thematic strategist based in Edinburgh for Standard Life Investments. "The marke...
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