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GLOBAL MARKETS-Stocks inch up, dollar eases; China strikes back at Trump tariffs
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GLOBAL MARKETS-Stocks inch up, dollar eases; China strikes back at Trump tariffs
Apr 11, 2025 9:34 AM

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U.S. stocks slightly higher, but trading is choppy

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Gold goes above $3,200 per ounce to another record high

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US bond yields rise while euro zone bond yields ease

(Updates with early U.S. markets activity)

By Caroline Valetkevitch and Amanda Cooper

NEW YORK/LONDON, April 11 (Reuters) - Major stock

indexes edged up in volatile trading, the U.S. dollar eased and

gold prices hit another record high on Friday as China increased

its tariffs on U.S. imports and a brutal week of market swings

drew to a close.

The U.S. bond selloff resumed, with 10-year Treasury

prices easing and yields - which move inversely to prices - on

track for their biggest weekly increase in more than 43 years as

investors remained nervous about further bond market

liquidations.

Investors digested a report showing that U.S. consumer

sentiment deteriorated sharply in April and another showing U.S.

monthly producer prices unexpectedly fell in March.

They also looked at results from some big Wall Street banks,

which kicked off the quarterly U.S. reporting period. JPMorgan

Chase ( JPM ), Morgan Stanley ( MS ) and Wells Fargo ( WFC )

were among the reports, which mostly showed major U.S. banks

beat forecasts for the first quarter.

Markets have been rocked by the global trade war and

worries about recession since U.S. President Donald Trump

announced sweeping tariffs late on April 2.

On Friday, China hit back, hiking its tariffs on U.S.

goods to 125%, from 84%.

The Dow Jones Industrial Average rose 67.71

points, or 0.14%, to 39,647.37, the S&P 500 rose 14.71

points, or 0.28%, to 5,282.76 and the Nasdaq Composite

rose 75.17 points, or 0.44%, to 16,458.73.

Technology led S&P 500 sector gains.

"A lot of de-risking has happened in the (tech) space

and investors don't want to take too much risk of being too

underweight in those areas," said Thomas Martin, senior

portfolio manager at Globalt Investments.

MSCI's gauge of stocks across the globe

fell 1.56 points, or 0.20%, to 777.71. The pan-European STOXX

600 index fell 0.13%.

In the Treasury market, analysts said hedge funds and

other asset managers offloaded bonds this week after getting

margin calls and posting sharp losses from market volatility.

Strong auctions of 10-year and 30-year debt on Wednesday

and Thursday helped stabilize the market somewhat, but many

investors remain wary of buying bonds until there is further

improvement in liquidity.

The yield on benchmark U.S. 10-year notes rose

14.3 basis points to 4.535%.

Earlier, euro zone bond yields eased, and the premium

that holders of Treasuries demand to hold U.S. debt rather than

German Bunds rose by the most in a week since the 1990s.

The dollar index, which measures the greenback

against a basket of currencies including the yen and the euro,

fell 0.41% to 100.11, with the euro up 1.07% at $1.1317.

Against the Japanese yen, the dollar weakened 0.61%

to 143.61.

Against the Swiss franc, the dollar weakened 0.87% to

0.816.

Spot gold was up 1.8% at $3,230.75 an ounce,

after hitting a record high of $3,237.56 earlier in the session.

Bullion is up over 6% this week.

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