Stocks around the world rose on Friday, with three major indexes in the US finishing at all-time highs after the country reported softer than anticipated inflation data, raising hopes of another interest rate cut by the Federal Reserve.
Next week’s trade talks between the leaders of the US and China, the world’s two largest economies, are also supporting stock markets.
In the US, the Dow Jones Industrial Average rose by 1 per cent to 47,207.12 and the S&P 500 up by 0.8 per cent to 6,791.69, while the tech-rich Nasdaq Composite Index jumped 1.2 per cent to 23,204.87.
European and Asian stocks also rose on the back of interest rate cut optimism and trade talks between the US and China.
In London the FTSE 100 gained 0.7 per cent, while Frankfurt’s DAX was up 0.1 per cent. In Asia, major stock indexes ended the week positively, with Tokyo’s Nikkei 225, Hong Kong’s Hang Seng index and Shanghai Composite posting gains.
The US Consumer Price Index increased 0.3 per cent in September, after rising 0.4 per cent in August, according to the latest data from the Bureau of Labour Statistics.
On an annual basis, the index rose 3 per cent, up from 2.9 per cent in August but below the expectations of 3.1 per cent among economists polled by Bloomberg.
“Tariff-related inflation will remain a concern in the near term, but it is the jobs market that is becoming the more pressing issue for the Fed, with a clear chance that the ‘low hire, low fire’ economy becomes a ‘no hire, let’s fire’ story,” ING economists said in a research note on Friday.
“We continue to look for a 25 basis point rate cut next week, with a further 25 basis point move in December and 50 basis points of cuts in early 2026.”
In September, the Federal Reserve cut US interest rates by 25 basis points on increased concerns over the strength of the labour market and indicated further rate cuts this year.
Meanwhile, US and China trade talks expected to be held next week during President Donald Trump’s visit to Asia are also supporting stock markets.
The US and China have been levying tariffs on each other since the return of Mr Trump to the White House this year.
The US announced an additional 100 per cent tariff on China in a dispute over export controls on rare earth minerals this month.
“Trade tensions between the US and China eased – after flaring up, easing and flaring up again over recent weeks – on news that Trump and Xi will meet next Thursday at a summit in Asia,” Ipek Ozkardeskaya, senior analyst at Swissquote, said.
“There’s no guarantee the US-China meeting will happen or lead to a durable truce but it would mark the first face-to-face encounter since Trump returned to the White House and follow a wild ride of tariff and chip wars that have only intensified since January.”
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians – it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you’re doing
Abu Dhabi GP schedule
Friday: First practice – 1pm; Second practice – 5pm
Saturday: Final practice – 2pm; Qualifying – 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) – 5.10pm
World record transfers
1. Kylian Mbappe – to Real Madrid in 2017/18 – €180 million (Dh770.4m – if a deal goes through)
2. Paul Pogba – to Manchester United in 2016/17 – €105m
3. Gareth Bale – to Real Madrid in 2013/14 – €101m
4. Cristiano Ronaldo – to Real Madrid in 2009/10 – €94m
5. Gonzalo Higuain – to Juventus in 2016/17 – €90m
6. Neymar – to Barcelona in 2013/14 – €88.2m
7. Romelu Lukaku – to Manchester United in 2017/18 – €84.7m
8. Luis Suarez – to Barcelona in 2014/15 – €81.72m
9. Angel di Maria – to Manchester United in 2014/15 – €75m
10. James Rodriguez – to Real Madrid in 2014/15 – €75m
Scoreline
Chelsea 1
Azpilicueta (36′)
West Ham United 1
Hernandez (73′)
Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
SPECS
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
