Wall Street shares rose in a holiday-shortened session as the Black Friday shopping spree got under way and traders speculated whether Donald Trump may temper his trade tariff threats.The yen rallied against the dollar as higher inflation in Japan fuelled expectations that the central bank will hike interest rates again.Traders are closing out a rollercoaster month for assets caused largely by Trump winning a second US presidential election — and also a result of the wars in Ukraine and Gaza.Markets are tracking developments surrounding Trump’s pledge to hammer China, Canada and Mexico with hefty tariffs on his first day in office in January.US stock markets were up nearing midday deals following Thursday’s Thanksgiving break, with investors set to go home early on Friday.The euro fell slightly against the dollar but the Paris and Frankfurt stock markets closed in the green. London finished with more modest gains.”With many US investors still out after being off for Thanksgiving yesterday, the key theme that has emerged in the last few days is the easing of tariff fears,” said Fawad Razaqzada, market analyst at City Index and Forex.com.This came after a phone call between Trump and Mexican President Claudia Sheinbaum, who afterwards said: “There will not be a potential tariff war.”The focus was also on shoppers seeking bargains on Black Friday, a crucial day for retailers around the world.- Eurozone inflation rises -Investors in Europe digested data showing eurozone inflation accelerated again in November, as well as France’s ongoing political turmoil.Year-on-year consumer price increases reached 2.3 percent, the EU’s official data agency said, continuing to bounce back from a three-year low of 1.7 percent in September.Analysts said the latest reading was not expected to deter the European Central Bank from cutting interest rates next month as it focuses on addressing Europe’s sluggish growth.Investors have monitored uncertainty over budget cuts to reduce France’s huge deficit, as Prime Minister Michel Barnier’s government struggles amid tough opposition from the right and left.- Yen rally -In Asia on Friday, forecast-busting consumer prices out of Tokyo boosted talk of another Japanese interest-rate hike next month, in turn sending the yen strengthening one percent against the dollar.Consumer prices in Tokyo — seen as a bellwether for Japan as a whole — jumped 2.6 percent in the 12 months through November, well up from October’s rate and much more than expected.The Bank of Japan has hiked interest rates twice this year, while the yen was being supported also by forecasts that the Federal Reserve will lower US rates at its December meeting.The stronger yen Friday weighed on Japanese exporters, causing the Tokyo stock market to close lower.Hong Kong and Shanghai gained after Chinese authorities held a meeting to discuss plans to boost stunted consumption in China as they look to kickstart the world’s number two economy.- Key figures around 1640 GMT -New York – Dow: UP 0.6 percent at 44,974.40 pointsNew York – S&P 500: UP 0.6 percent at 6,033.83New York – Nasdaq: UP 0.8 percent at 19,206.34London – FTSE 100: UP 0.1 percent at 8,287.30 (close)Paris – CAC 40: UP 0.8 percent at 7,235.11 (close)Frankfurt – DAX: UP 1.0 percent at 19,626.45 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 38,208.03 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 19,423.61 (close)Shanghai – Composite: UP 0.9 percent at 3,326.46 (close)Dollar/yen: DOWN at 150.45 yen from 151.51 yen on ThursdayEuro/dollar: DOWN at $1.0548 from $1.0552Pound/dollar: UP at $1.2692 from $1.2687Euro/pound: DOWN at 83.05 from 83.18 penceWest Texas Intermediate: UP 0.8 percent at $69.30 per barrelBrent North Sea Crude: UP 0.2 percent at $72.93 per barrel

The yen rallied against the dollar and the euro also advanced versus the US unit Friday as traders reacted to news of higher inflation in Japan and the eurozone.European and Asian stock markets traded mixed before Wall Street reopens from a break Thursday for the Thanksgiving holiday, and as consumers in the United States and elsewhere sought Black Friday bargains.Traders closed out a rollercoaster month for assets caused largely by Donald Trump winning a second US presidential election — and also a result of the wars in Ukraine and Gaza. Markets are tracking in particular developments surrounding Trump’s pledge to hammer China, Canada and Mexico with hefty tariffs on his first day in office in January.In Asia on Friday, “expectations for a rate hike by the Bank of Japan firmed up after a hotter than expected inflation print”, noted Derren Nathan, head of equity research at Hargreaves Lansdown.Forecast-busting consumer prices out of Tokyo boosted talk of another Japanese interest-rate hike next month, in turn sending the yen strengthening one percent against the dollar.Consumer prices in Tokyo — seen as a bellwether for Japan as a whole — jumped to 2.6 percent in November, well up from October and much more than expected.The Bank of Japan has hiked interest rates twice this year, while the yen was being supported also by forecasts that the Federal Reserve will lower US rates at its December meeting.The BoJ lifted rates in March for the first time in 17 years followed by a second increase in July.The stronger yen Friday weighed on Japanese exporters, causing the Tokyo stock market to close lower.Hong Kong and Shanghai gained after Chinese authorities held a meeting to discuss plans to boost stunted consumption in China — a key goal for Beijing as it looks to kickstart the world’s number two economy.- Eurozone inflation -In Europe, the euro firmed against the dollar as official data showed the eurozone’s annual inflation rate rebounded further in November on resilient energy prices.Year-on-year consumer price increases reached 2.3 percent, the EU’s official data agency said, continuing to bounce back from a three-year low of 1.7 percent in September.Analysts said the latest reading was not expected to deter the European Central Bank from cutting interest rates next month as it focuses on addressing Europe’s sluggish growth.Eurozone assets remained under pressure owing to uncertainty over budget cuts to reduce France’s huge deficit, and as Prime Minister Michel Barnier’s government struggles amid tough opposition from the right and left.Economic weakness in Germany in particular has also dampened enthusiasm for the euro. London’s stock market and pound were little changed heading into the weekend.The Bank of England on Friday warned that growing geopolitical tensions pose a “significant” risk to banks and broader financial stability.A half-yearly report from the BoE on risks to the financial system did not mention Trump, but noted the potential for “increased global fragmentation” of trade amid a broad range of geopolitical issues.In commodities trading, oil prices slipped Friday with the OPEC+ alliance having postponed a meeting planned for this weekend until Thursday, with analysts saying there were signs of disagreement among the group over plans to increase output.Bitcoin was sitting at about $97,500, having suffered a big drop at the start of the week. – Key figures around 1230 GMT -London – FTSE 100: UP 0.1 percent at 8,284.40 pointsParis – CAC 40: UP 0.4 percent at 7,205.93Frankfurt – DAX: UP 0.4 percent at 19,503.03Tokyo – Nikkei 225: DOWN 0.4 percent at 38,208.03 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 19,423.61 (close)Shanghai – Composite: UP 0.9 percent at 3,326.46 (close)Dollar/yen: DOWN at 150.08 yen from 151.51 yen on ThursdayEuro/dollar: UP at $1.0559 from $1.0552 Pound/dollar: UP at $1.2690 from $1.2687Euro/pound: FLAT at 83.18 pence West Texas Intermediate: DOWN 0.1 percent at $68.63 per barrelBrent North Sea Crude: DOWN 0.5 percent at $72.91 per barrel