Stock markets snapped a three-day losing streak on Tuesday and oil was on its longest run of gains in nine months as moves to ease major economies out of their coronavirus lockdowns lifted sentiment.
Stock markets fell on Monday after reports of a pick-up in new coronavirus cases rattled investors, who worried that it could slow or reverse the loosening of lockdown measures.
World equity markets inched higher and safe-haven bonds fell on Tuesday as stronger economic data from China and upbeat corporate earnings in Europe overshadowed concerns about a potential second wave of coronavirus infections.
From the outset, European equities kicked lower on simmering US-China tensions with Frankfurt and Paris playing catch-up with London after a long holiday weekend.
Global shares rallied on Friday, hitting weekly highs, on signs of improving Sino-American relations and the prospect of more governments gradually reopening their economies.
World stocks edged up on Friday and oil prices rallied more than 2%, lifting sentiment after a week pressured by deteriorating US-China relations.
US retail sales tumbled by a record 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away.
Europe’s major stock markets retreated on Tuesday from the previous session’s rally, as traders banked profits, digested grim data and mulled coronavirus vaccine hopes.
Stocks around the world climbed on Wednesday, and the S&P 500 surged toward its first gain of what’s been a dismal week.
Global stocks fell and safe havens such as bonds and the Japanese yen rallied as investors awaited Washington’s response to China’s national security law on Hong Kong amid rising tensions between the world’s two biggest economies.