Global Stocks Higher After Remarks by BOJ Governor

Global equity indexes rose sharply on Friday, with Wall Street rallying after a jump in Netflix and Alphabet shares, while the U.S. dollar had its biggest daily percentage gain against the yen in about two weeks as the Bank of Japan governor repeated the central bank will maintain its ultra-loose monetary policy. While The S&P 500 and Dow snapped a three-session losing streak and the Nasdaq rose more than 2%.

A global stock index was however still set for a weekly loss on increasing fears of a looming global economic recession.

In late-morning U.S. trading, Netflix Inc rose nearly 7%. Netflix Inc (NFLX.O) gained 8.5% after the streaming video company reported quarterly results late Thursday and said it had picked up more subscribers than expected at the end of last year.

The BOJ Governor Haruhiko Kuroda addressed the World Economic Forum and said the central bank would maintain its accommodative monetary policy to achieve its inflation target of 2% in a sustainable, stable manner.

The Nasdaq Composite rose 150.71 points, or 1.39%, to 11,002.98, the S&P 500 added 34.39 points, or 0.88%, to 3,933.24 and the Dow Jones Industrial Average gained 170.56 points, or 0.52%, to 33,215.12.

The STOXX 600 pan-European index gained 0.31% and MSCI's index of global stocks added 0.80%. The European STOXX 600 index has been recovering this year, mainly due to easing natural gas prices and China reopening trades.