GLOBAL MARKETS-Stocks, oil gain on better-than-expected data

                                
  
                                
 * Stocks gains on tame US CPI, improved consumer sentiment
                                
 * Euro falls against US dollar after Moody's cuts Ireland
                                
 * U.S. Treasuries extend gains on benign inflation data
                                
 * Oil rises on China growth, better US consumer sentiment
 (Updates with close of U.S. markets)
                                
 By Herbert Lash
                                
 NEW YORK, April 15 (Reuters) - Global stocks and crude oil
rose on Friday as better-than-expected economic reports and
improving U.S. consumer confidence eased concerns about rising
fuel costs even as gold hit a record high on inflation fears.
                                
 U.S. Treasury debt gained after government data showed
underlying U.S. inflation pressures remained subdued and a
survey said consumers were more restrained in their long-term
inflation outlook. For details see: [ID:nN15273289]
                                
 Core consumer prices, which exclude volatile food and
energy costs, edged up a less-than-expected 0.1 percent in
March while consumer inflation expectations for the next five
to 10 years fell, boding well for fixed-income prices.
[ID:nN15209781]
                                
 But gold prices rose 1 percent to a record as a rally in
crude oil and a downgrade of Ireland's sovereign debt powered
bullion toward its fifth consecutive weekly gain.
                                
 Spot gold <XAU=> hit a record $1,487.90 an ounce but
remained far below its all-time inflation-adjusted high of
almost $2,500 an ounce in 1980.
                                
 Wall Street rallied but the market is set to climb a wall
of worry next week when more than one-fifth of S&P 500
companies report results. Disappointing results from Bank of
America <BAC.N> and Google <GOOG.O> late Thursday kept gains in
check.
                                
 "I'm surprised the market is holding up so well, given
Google and Bank of America. But everyone is happy with the
consumer price number," said Randall Warren, chief investment
officer of Warren Financial Service in Exton, Pennsylvania.
                                
 "People were afraid that inflation could derail the bull
market, and this data puts that story on hold."
                                
 Other data showed industrial capacity use jumped in March
to its highest level since August 2008 while manufacturing
activity in New York state was better than expected, easing
worries about slower growth. [ID:nN15215603] [ID:nDYE7EA02G]
                                
 The Dow Jones industrial average <.DJI> closed up 56.68
points, or 0.46 percent, at 12,341.83. The Standard & Poor's
500 Index <.SPX> gained 5.16 points, or 0.39 percent, at
1,319.68. The Nasdaq Composite Index <.IXIC> added 4.43 points,
or 0.16 percent, at 2,764.65.
                                
 European stocks ended slightly higher but posted their
first weekly loss in a month on worries over the euro zone debt
crisis after Moody's cut Ireland's sovereign credit rating to
just above "junk" status. [ID:nLDE73E1L1]
                                
 The FTSEurofirst 300 <.FTEU3> index of top European shares
closed 0.3 percent higher at 1,131.72 points. For the week, it
posted a 1.5 percent loss.
                                
 Global stocks as measured by MSCI's all-country world index
<.MIWD00000PUS> rose 0.1 percent, pulled higher by Wall
Street.
                                
 The Moody's downgrade kept Europe's debt problems in focus
although the euro was underpinned by expectations of more rate
rises by the European Central Bank and the likelihood that the
Federal Reserve will keep U.S. rates on hold. [ID:nN15420019]
                                
 "The interest rate differential argument has clearly
supported the euro the last few weeks," said Greg Salvaggio,
senior vice president for capital markets at Tempus Consulting
in Washington.
                                
 Brent crude surged past $123 a barrel and prices in New
York settled almost at $110 a barrel. Concerns about the impact
of surging fuel on the economic recovery and consumption hit
prices earlier in the week, knocking Brent off 32-month highs.
                                
 U.S. crude futures <CLc1> rose $1.55 to settle at $109.66 a
barrel, marking the third straight day of gains. ICE Brent
crude <LCOc1> for June, the new front-month contract, settled
up $1.45 to $123.45 a barrel in London.
                                
 The euro <EUR=EBS> was down 0.4 percent at $1.4432, while
the dollar was down 0.5 percent at 83.12 yen <JPY=>.
                                
 U.S. Treasuries extended gains.
                                
 The benchmark 10-year U.S. Treasury note <US10YT=RR> was up
22/32 in price to yield 3.41 percent.
                                
 Analysts and traders are turning increasingly bullish on
the near term outlook for U.S. Treasuries, saying slowing
growth and benign inflation may help further price gains.
[ID:nN15235704]
                                
 Copper closed almost flat as the dollar pared gains, but
investors worried high inflation in China would lead to
monetary tightening and erode demand. [ID:nLDE73E0MY]
                                
 "The pace of Chinese growth points to further monetary
tightening there, which could weigh on Chinese fuel demand in
the future," said Carsten Fritsch, an analyst at Commerzbank.
 (Reporting by  Ryan Vlastelica, Nick Olivari and Ellen
Freilich in New York; Christopher Johnson, Rebekah Curtis and
Kirsten Donovan in London; Blaise Robinson in Paris; Writing by
Herbert Lash; Editing by Chizu Nomiyama)