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The S&P 500 rose 3.6 percent, its biggest weekly gain since last year. Investors are bracing for developments in peace talks between the United States and Iran, set for the weekend.
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Oil prices finished lower on Friday, with U.S. and global benchmark crude contracts posting their worst weekly percentage losses in nearly six years, as talks loomed between the U.S. and Iran.
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Consumer prices in March were up 3.3% from a year ago, the biggest annual increase in nearly two years. Higher gasoline prices tied to the war with Iran accounted for much of the surge.
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Three and a half years of deflationary pressure on Chinese factories reversed course last month as higher energy prices cycled into the economy.
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