{"id":112272,"date":"2021-04-16T09:09:16","date_gmt":"2021-04-16T09:09:16","guid":{"rendered":"https:\/\/fin2me.com\/?p=112272"},"modified":"2021-04-16T09:09:16","modified_gmt":"2021-04-16T09:09:16","slug":"world-stocks-at-record-high-oil-up-on-strong-china-u-s-data","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/world-stocks-at-record-high-oil-up-on-strong-china-u-s-data\/","title":{"rendered":"World stocks at record high, oil up on strong China, U.S. data"},"content":{"rendered":"

LONDON\/TOKYO (Reuters) -Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus-induced slump.<\/p>

FILE PHOTO: A man is reflected on a stock quotation board in Tokyo, Japan February 26, 2021. REUTERS\/Kim Kyung-Hoon<\/figcaption>

Government stimulus, a string of strong corporate earnings releases and the signs of economic recovery in countries ahead in the COVID-19 vaccination race have all helped push stock markets onto new heights in recent days.<\/p>\n

MSCI\u2019s broadest gauge of world stocks edged higher in early European trade, up 0.1% to a record high. Europe\u2019s top indexes all opened higher, led by Britain\u2019s FTSE 100, up 0.5% and passing 7,000 points for the first time since February 2020.<\/p>\n

\u201cWith the vaccine roll-out fairly advanced and talk positive about the future state of the economy, investors are once again seeing opportunity rather than threat in UK shares,\u201d said Adam Vettese, an analyst at multi-asset investment platform eToro.<\/p>\n

U.S. stock futures pointed to a slightly lower open, with S&P futures down 0.06% and Nasdaq futures down 0.2%<\/p>\n

Overnight, Asian markets had tracked a path similar to Europe\u2019s. MSCI\u2019s broadest index of Asia-Pacific shares outside Japan was last up 0.4%, with Shanghai shares adding 0.8% and Japan\u2019s Nikkei up 0.1%.<\/p>\n

Driving the move was Chinese data showing record 18.3% growth in the first quarter, though the reading slightly undershot expectations. Retail sales bounced strongly last month.<\/p>\n

\u201cWe remain focused on a China-led rebound steadily helping the Asia-Pacific region,\u201d said Sebastien Galy, senior macro strategist at Nordea Asset Management.<\/p>\n

\u201cAs the U.S. economy and then European economies open up, it should further help Asian exports. This should support Emerging Market and APAC equities as well as China equities and fixed income.\u201d<\/p>\n

Despite the punchy GDP number, gains were tempered by the view that Beijing will act to rein in the brisk expansion later in the year to stop the economy overheating.<\/p>\n

\u201cRegulators might make further efforts to cool down the property market and control domestic leverage. Fiscal discipline might also be strengthened, leading to deceleration in local government financing and infrastructure investment,\u201d said Chaoping Zhu, global market strategist at J.P. Morgan Asset Management in Shanghai.<\/p>\n

The strong Chinese data had followed similarly upbeat numbers out of the United States overnight. Retail sales rebounded 9.8% in March, pushing the level of sales 17.1% above its pre-pandemic level to a record high.<\/p>\n

The brightening economic prospects were underscored by other data, including first-time claims for unemployment benefits, which tumbled last week to the lowest level since March 2020.<\/p>\n

All of which helped oil prices push on, hitting one-month highs thanks to the economic data and higher demand forecasts from the International Energy Agency (IEA) and OPEC.<\/p>\n

Brent futures were last up 0.3% at $67.12 per barrel. U.S. crude was 0.2% higher at $63.59 per barrel, both on course for their first substantial weekly gains in six.<\/p>\n

Despite the strong data, U.S. bond yields dropped, in part driven by buying from Japan, which began a new financial year this month. The 10-year U.S. Treasuries yield hovered near its five-week low of 1.589%.<\/p>\n

In the currency market, lower U.S. yields were a drag on the dollar overnight, although the dollar index had recovered to trade flat early in the European session.<\/p>\n

The euro was flat at $1.1967, having hit a six-week high of $1.19935 overnight. The pound was down 0.3% at $1.3740.<\/p>\n

Gold also fell from a seven-week high of $1,769 per ounce to trade at $1,763.70.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON\/TOKYO (Reuters) -Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid […]<\/p>\n","protected":false},"author":3,"featured_media":112271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nWorld stocks at record high, oil up on strong China, U.S. data - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/world-stocks-at-record-high-oil-up-on-strong-china-u-s-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World stocks at record high, oil up on strong China, U.S. data - Fin2me\" \/>\n<meta property=\"og:description\" content=\"LONDON\/TOKYO (Reuters) -Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/world-stocks-at-record-high-oil-up-on-strong-china-u-s-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-16T09:09:16+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/World-stocks-at-record-high-oil-up-on-strong-China-U.S.-data.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/world-stocks-at-record-high-oil-up-on-strong-china-u-s-data\/\",\"url\":\"https:\/\/fin2me.com\/business\/world-stocks-at-record-high-oil-up-on-strong-china-u-s-data\/\",\"name\":\"World stocks at record high, oil up on strong China, U.S. data - 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