U.S. stocks ended the week at all-time highs as Chinese growth data added to signs of a global economic recovery. The dollar slipped.

The S&P 500 Index capped its fourth straight weekly advance as the strong data from Asia joined a raft of robust readings in the world’s largest economy to boost sentiment. Chinese stocks outperformed in Asia after a report showed the nation’s economy soared in the first quarter. The Stoxx Europe 600 Index posted a seventh week of advances, its longest streak since May 2018.

The data from Beijing added to Thursday’s string of positive economic figures out of the U.S., pushing the MSCI All-Country World Index to a fresh record. Treasuries extended their gains. Morgan Stanley became the latest American bank to post record first-quarter results.

Along with healthy corporate earnings, the week’s dump of data gave fresh impetus to the reflation trade. In the U.S., retail sales and…

Read more…


Comments are closed.