The consumer price index (CPI) data of the United States (US) which is still high is seen not to undermine the position of investors to buy on risky assets.
Summarizing the CPI reading, which also measures the rate of inflation, on an annual basis the figure decreased 8.2% compared to 8.3% but exceeded the forecast of 8.1%.
On a monthly basis, the reading increased 0.4% from 0.1% while the market estimated the figure at 0.2%.
This indirectly caused equities to lose ground and the dollar to measure up, but the situation began to change towards the end of the session.
At the close of the trading session, Wall Street indices reversed a 2.3% decline, the lowest level since November 2020, to register a 2.6% gain.
The Dow Jones Industrial Average rose 2.83% to 30,038.72 while the S&P 500 gained 2.60% to 3,669.91 and the Nasdaq Composite added 2.23% to 10,649.15.
In the European zone, the STOXX 600 index rose 0.58% with the MSCI gauge of global shares reaching 1.69%.
The Asian region saw Japan's Nikkei 225 start well 2.37% while Topix reached 1.74%, South Korea's Kospi advanced 1.74% and Kosdaq rose 2.53%.
Australia's gauge S&P/ASX 200 jumped 1.7% and MSCI's broadest Asia-Pacific index of shares outside Japan added 0.83%.
The currency summary showed the dollar the biggest loser with the Euro jumping 0.72% while the Yen weakened 0.24% against the greenback at 147.24 while the Pound was up 1.99% at $1.1324.
Treasury yields also rose to a 14-year high but offset an equity rally by the close as the benchmark 10-year note rose 5.6 basis points to 3.958% from 3.902%.
