The latest U.S. numbers show consumer demand boosting the recovery from the pandemic. Retail sales accelerated in March by the most in 10 months as business reopenings, increased hiring and a fresh round of stimulus checks emboldened shoppers. While production at U.S. factories increased in March by the most in eight months, it was softer than forecast as automakers continued to deal with shortages of semiconductors.
After weeks of being confined to a narrow trading range, gold climbed Thursday to the highest since Feb. 26 amid the surge in Treasuries. Traders suggested international concerns may have helped fuel the rally in bonds, with many investors caught positioned for higher yields. Bullion was also supported this week after Federal Reserve Chairman Jerome Powell reiterated his dovish stance on monetary policy.
U S stocks add to record; Treasuries, dollar fall
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U S stocks churn higher on economy optimism
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(Bloomberg) U.S. futures rose and global stocks hit all-time highs on Friday as record growth figures from China added fuel to bets on the economic recovery. The dollar slipped.
Contracts on the S&P 500 and the small-cap Russell 2000 Index climbed, while Chinese shares outperformed in Asia after a report showed the nation’s economy soared in the first quarter. The Stoxx Europe 600 Index was poised for a seventh week of advances, its longest streak since May 2018, as investors continued to boost cyclicals such as carmakers and banks, while defensive sectors lagged.
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