Benchmark indexes on Wall Street advanced after inflation cooled, and the Federal Reserve held rates steady as expected. European markets continued their climb as France plunged into political turmoil. Weaker-than-expected inflation stoked deflation worries in China. Japan's wholesale inflation accelerated for the fourth month in a row.
U.S. major averages turned lower after manufacturing sector activities contracted for the second month in a row, raising questions about the strength of the economy. European markets advanced on the rate-cut expectation this Thursday. China's manufacturing activity growth accelerated to a 2-year high.