GLOBAL MARKETS-Stocks rise as hot CPI data fails to unnerve investors

MSCI's all-country world index rose 0.36%, to post its biggest weekly gain, up 3.05%, since early February. The broad STOXX Europe 600 index fell 0.30% on concerns the Omicron COVID-19 variant could weaken the European recovery. The Dow Jones Industrial Average rose 0.60%, the S&P 500 gained 0.95% and the Nasdaq Composite advanced 0.73%.

NEW YORK: The dollar weakened and a gauge of global equity markets rose higher on Friday after data showed consumer prices rose as expected in November, easing concerns the U.S. Federal Reserve would aggressively tighten monetary policy to combat inflation.

Gold rose as rising inflation lifted its safe-haven appeal, while U.S. Treasury yields were little changed in a sign some bond investors do not see interest rate hikes starting as early as next year's second quarter, as many equity investors do.