US stocks at record high as inflation hits 30-year high

Markets rose on Friday.

The S&P 500 rose 0.2 percent to a record high, the STOXX Europe 600 rose 0.1 percent and the Shanghai Composite rose 0.8 percent.

Investors shrugged off news of continuing high inflation.

In the US, a report on Friday showed that the personal consumption expenditures price index rose 4.4 percent in September from the previous year, the biggest jump since January 1991.

Meanwhile eurozone inflation hit a 13-year high of 4.1 percent in October.

Angelo Kourkafas, an investment strategist at Edward Jones, said that while companies face cost pressures, “profitability has remained fairly resilient because of strong demand and pricing power”.