The US dollar fell and was on course for its worst week in more than a month, while Treasury yields fell after underlying US inflation data offset higher gasoline prices and strong retail sales in the wake of disruptions caused by hurricanes.

Stocks on major world stocks however hit their fourth record in a row, with Wall Street moving higher as some investors bet that the inflation data could curb future Federal Reserve’s rate rises.

Yesterday, European shares also rose to their highest level in nearly four months, helped by some well-received corporate earnings updates.

US consumer prices recorded their biggest increase in eight months in September as gasoline prices soared in the wake of hurricane-related production disruptions at oil refineries in the Gulf Coast area, but underlying inflation remained muted.

US retail sales recorded their biggest increase in 2-1/2 years in September likely as reconstruction and clean-up efforts in areas devastated by Hurricanes Harvey and Irma boosted demand for building materials and motor vehicles.

The Dow Jones Industrial Average rose 54.25 points, or 0.24 per cent, to 22,895.26, the S&P 500 gained 6.23 points, or 0.24 per cent, to 2,557.16 and the Nasdaq Composite added 23.17 points, or 0.35 per cent, to 6,614.68.

The pan-European FTSEurofirst 300 index rose 0.29 per cent and MSCI’s gauge of stocks across the globe gained 0.37 per cent.

Earlier in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan hit a roughly 10-year high.

The US dollar index fell 0.14 per cent, with the euro up 0.16 per cent to $1.1848.

European Central Bank policy-makers broadly agreed to extend asset purchases at a lower volume at their October policy meeting with views converging on a nine-month extension, sources at the central bank told Reuters.

Digital currency Bitcoin was up 5.9 per cent $5,767.33 after the previous session’s 12.9 per cent gain pushed it above $5,000 for the first time.

Oil prices firmed yesterday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a nearly three per cent weekly gain.

US crude rose 1.11 per cent to $51.16 per barrel and Brent was last at $56.79, up 0.96 per cent on the day.