a look at the day ahead in us and global markets from mike dolan as sp500 stocks clock their highest close of the year marking a technical 20  bull market  from octobers low disinflation signals around the world may help calm g3 central bankers meeting next week much like the winter euro zone recession that appears to come and go with each data revision fondlycharted technical definitions may not mean a great deal in a stilldistorted postpandemic economic and financial landscape but theres little doubt a combination of the aiinfused  tech sector boom impressive resilience in aggregate the earnings and employment and the prospect of peaking central bank interest rates are drawing underweight investors back to equity while abovetarget inflation in most western countries means some more rate hikes are likely there were signs this week of global price pressures abating further and supertight labor markets loosening enough to see borrowing rates top out in 2023 on friday china said annual factory gate prices fell a whopping 46 in may  the fastest pace in seven years and quicker than forecasts its annual consumer price inflation rate was just 02  also below forecast that followed thursdays news that us weekly jobless claims jumped 28000 to their highest level in 18 months albeit with some caution about possible calendar effects and outlier states us may cpi inflation numbers are due on tuesday  a day before the federal reserves latest policy decision but along with easing supply chain pressures and annual crude oil price deflation still near 40 there was enough to restore hopes that central bank tightening is gaining traction and further extreme moves unnecessary futures only put a oneinfour chance the fed will raise rates again next week preferring the final hike to come in july the bank of japan is expected to retain its supereasy money policy and the european central bank is due to nudge up rates another quarter point on the hawkish side the international monetary fund on thursday urged global central banks to stay the course on monetary policy and remain vigilant the conflict in ukraine and this weeks dam burst there as well as expectations of an  el nino  extreme weather development later this year create some concerns about food prices as governments urged producers and shops to ease the pressure on households bond markets have calmed again however with us 2year treasury yields flat just above 37 on friday and after the s500s spx new closing high for the year futures held the bulk of those gains on friday too the vix index vix of implied stock market volatility fell to another postpandemic low on thursday  its lowest since february 2020 the dollar  was a touch higher elsewhere in the intensifying battle between us regulators and crypto exchanges  binanceus said it is stopping dollar deposits and users will soon not be able to withdraw dollars from the exchange  all after regulators said they supported freezing binances assets in politics former us president donald trump faces charges for illegally retaining classified documents and other crimes expected to be filed next week in federal court in miami events to watch for later on friday  canada may employment report