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…

Share.

Comments are closed.