Analytics, 17 April 2021
Week 15 in Brief
- Global stocks closed at all-time highs Friday as strong corporate earnings, economic data in the US, and robust Chinese growth data led both US and European stocks to extend their recent rallies.
- Investors digested strong reports from big banks including Morgan Stanley, Bank of New York Mellon, and Goldman Sachs which helped boost optimism about the recovery and a better economic outlook, despite concerns of upcoming inflation.
- Chinese stocks outperformed in Asia after a report showed China’s economy soared in the first quarter, which further pushed the MSCI All-Country World Index to a fresh record.
- In commodities oil prices lost some ground while gold futures traded higher for a second straight day Friday, adding to its climb after touching its highest level in seven weeks.
- In currencies, the USD slipped against a basket of six major currencies, as both the euro and pound jumped.