European Equity Markets
The Stoxx 600 closed higher by 0.8%, with media as the best performing sector trading almost 2.3% higher. Healthcare stocks also gained throughout the day to close just over 2% higher.
US Equity Markets
Equities gained on Thursday as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before. The S&P 500 gained 0.87%, to 2,798.29 and the Nasdaq Composite added 1.39%, to 7,823.92.
Asian Equity Markets
Equities extended moves higher on Friday after US markets rebounded as technology stocks touched all-time highs. The Nikkei 225 gained 1.58% as stocks extended Thursday’s gains, with the yen weaker on the day. Fast Retailing jumped 6.89% after posting robust earnings overnight while Fanuc traded 1.69% higher. The Hang Seng Index gained higher by 0.5%, with consumer goods and services contributing to overall gains.
US Dollar Index traded stronger supported by Treasury yields that edged higher on expectations the U.S. inflation rate will rise. The EUR/USD stood little changed at $1.1662.
Oil prices traded lower on Friday as the market shrugged off a warning that spare capacity may be stretched as OPEC and Russia increase production. Brent crude traded 36 cents lower to $74.09. U.S. crude traded 4 cents lower to $70.29.
U.S. Treasury yields traded higher on Thursday as economic data showed U.S. inflation buildup remained modest and labor markets were strong, reinforcing expectations the Federal Reserve will maintain its rate increase schedule. U.S. 2-year note yields earlier reached 2.602%. Benchmark 10-year Treasuries yielded 2.853%. The Treasury sold $14 billion worth of 30-year bonds, wrapping up three days of auctions that increased coupon-bearing government debt by $69 billion.