Stock market today: World markets churn higher after the Dow logs another close

BANGKOK — World markets powered higher on Friday after the Dow Jones Industrial Average climbed to another record close on excitement that the Federal Reserve might cut interest rates several times next year.

Germany’s DAX advanced 0.6% to 16,849.10 and the CAC 40 in Paris was up 0.4% at 7,604.01. Britain’s FTSE 100 edged less than 0.1% higher, to 7,650.99.

The futures for the S&P 500 and the Dow were up 0.2%. Oil prices also gained.

Hong Kong led Asia’s gains with property developers jumping after some Chinese cities eased buying restrictions.

The Hang Seng surged 2.4% to 16,792.19, but the Shanghai Composite index fell back, losing 0.6% to 2,942.56.

Troubled developer Country Garden’s shares jumped 5.1%, while China Evergrande gained 3.5% and Sino Ocean Holding surged 5.7%.

China’s National Bureau of Statistics reported that factory output rose 6.6% in November and retail sales…