Global shares rise with dollar, US bond yields turn higher
The U.S. dollar strengthened against major peers after four days of declines, while benchmark U.S. Treasury yields — after a three-session drop — hit a two-week low before reversing course.
Federal Reserve data on Friday showed U.S. manufacturing output increased 0.6% last month after an upwardly revised 0.4% rebound in November, likely as production picked up after a factory worker strike ended.
Elsewhere, data showed U.S. single-family homebuilding increasing to a 10-month high in December, indicating that construction activity regained some momentum at the end of the year, though rising mortgage rates and a glut of new homes on the market could constrain recovery.
All three of Wall Street's major indexes were up for the day while the S&P 500 and the Dow registered their biggest weekly gains since the week of the U.S. presidential election. The Nasdaq scored its biggest weekly advance since early December.
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