Wall Street main indexes finished lower on Friday after data showing persistent U.S. inflation offset expectations of an easing in U.S.-China tensions after a call between President Joe Biden and China's Xi Jinping.
Despite the gains, helped by a similar performance across Europe's top markets, the index remains down 0.6% on the week and on course for its first drop in three, albeit hovering near a record high.fell over 3% following a U.S. court ruling in "Fortnite" creator Epic Games' antitrust lawsuit that struck down some of the iPhone maker's restrictions on how developers can collect payments in apps.
"With the ECB raising its economic projections for 2022 and beyond, it appears that the high-water mark in policy accommodation has been passed," said Mark Dowding, chief investment officer at BlueBay Asset Management. "This is positive for equity markets, particularly cyclical and value areas of the market. And while this complicates the search for yield, we continue to see opportunities," he wrote in a note to clients.
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